An emergency motion passed by the Green Party conference has called on the government to implement a windfall tax on bank profits of 50%.
A Green Party spokesperson said: "The tax would be used to help restore public spending and to help minimise the damage to public services, to the economy and to society as a whole, by the government's cuts."
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The motion read:
Conference notes that the UK clearing banks are expected to announce total profits for the last financial year of perhaps £25 billion.
Conference believes there would be widespread public support for a measure requiring the banks to pay an exceptional contribution to the exchequer this year, to help minimise the damage to public services, to the economy and to society as a whole from the Government's cuts regime.
The Green Party therefore calls on the Government to implement a windfall tax on bank profits of 50% and to use the resulting revenue to help restore public spending.
Conference instructs GPEx to communicate this to the Government and to publicise this call for a windfall tax on banks' profits.
Proposed: Caroline Lucas
Seconded: Darren Johnson + 20 others