Banks Get Free Insurance

Richard Murphy:- I have been arguing since 2007 that UK banks should pay 10% more in tax than other companies. I argued at that time that this was the fee they owed for the state taking the risk of guaranteeing the deposits on which all banks (without exception) depend. That guarantee is still in place. It is why we, the ordinary people of the UK, bear the risk of banking now, for which we need to be compensated by way of additional tax payment.