£1.1 billion: that’s how much massive banks like HSBC and RBS coughed up this week in UK fines. [1] That’s a lot of unexpected cash. Together we can make sure the government spends it well. The NHS is desperately in need of more money: squeezed services, short-cuts in care, longer waiting times. [2] So let's challenge the government to put this unexpected cash from the banks to good use - protecting our NHS. George Osborne’s making the decision right now. He wants us to think that the government are good for the NHS. Let’s make him - and his Treasury - prove it. If tens of thousands of us sign a petition today telling him to put that £1.1bn into the NHS, we could make it embarrassing for him to refuse. Click here to sign the petition to the Treasury now: https://secure.38degrees.org.uk/banking-fines-petition The government have used the money they've received from misbehaving banks for social good before. Last year, they spent the fines on help for war veterans. [3] A huge petition to George Osborne and the Treasury today, telling them to spend this new money on vital NHS care, could make sure they do it. 38 Degrees members make protecting the NHS a top priority because we know that it's literally a matter of life and death. We want to live in a country where everyone gets the care they need, whether they are rich or poor. The less funding the NHS gets, the more that’s under threat. So let’s try and get this extra £1.1 billion from immoral bankers spent on frontline NHS services. Tell the Treasury now: spend the £1.1bn on the NHS. Click here to sign: https://secure.38degrees.org.uk/banking-fines-petition Thanks for being involved, Nat, Susannah, Blanche & the 38 Degrees team PS: This £1.1 billion wouldn't solve everything. Privatisation is looming and there’s a long-term need for much better funding. Just this morning, the government pledged £300m to the NHS to help through the winter - but the BMA Council, who represent doctors, said it was a “sticking plaster”, and called for much, much more. [4] This £1.1bn is a sticking plaster too. But it would definitely help. And what better way to spend the ill-gotten gains of bankers? Please sign the petition now: https://secure.38degrees.org.uk/banking-fines-petition NOTES: [1] BBC: Six banks fined £2.6bn by regulators over forex failings: http://www.bbc.co.uk/news/business-30016007 The six banks were charged a total of £2.6bn, and £1.1bn of that is being paid to the UK. The rest is being paid to the US. [2] Guardian: Norman Lamb: ‘NHS could crash without emergency £1.5bn funding’: http://www.theguardian.com/politics/2014/nov/11/norman-lamb-lib-dem-nhs-crash-emergency-funding Guardian: NHS finances in crisis due to rising demand and budget cuts: http://www.theguardian.com/society/...and-budget-cuts-30-billion-pound-deficit-2020 [3] BBC: Bank fines go to good causes after rule change: http://www.bbc.co.uk/news/business-25214567 [4] Independent: Hospitals and A&Es to get extra £300m to combat “unprecendented” winter pressure: http://www.independent.co.uk/life-s...at-unprecedented-winter-pressure-9859261.html
I do not believe that flinging more money at a problem is the best way forward. I can only really speak for my own health board up here in Scotland but through a bunch of Freedom of information requests the amount of money wasted runs into the tens of millions of pounds. PPI is a massive drain to the Lothian NHS , failed IT projects account for millions more wasted, a name change for the complaints department but there are many many other examples. of poor financial management. The NHS seems to employ more and more bureaucrats all on good salaries with job titles which mean nothing to the ordinary person whilst wards go short staffed and I have personal experience of this. Health care professionals spend far to much time worrying about ever increasing targets set by politicians which rarely benefit the patients. I suspect that these issues affect every health board in the UK. As for the paltry 2.1 billion levied on the banks yet no criminal proceedings whatsoever. Over claim benefits and feel the full wrath of the law and rightly so. Almost bring down the worlds economy,because of in many respects criminal actions, get a slap on the wrist. Divi this cash between the many health boards seems pointless as the the amounts would be small to have any real effect on patient care even supposing it was even spent on this.
While that may sound good it's not, for 2012-2013. Income Tax was £154bn National insurance was £104bn VAT was £101bn Finance industry was £63.0bn (11.6%) Corporation tax was £39bn Fuel duties was £26bn Total tax income for 2012-2013 was £550.6bn
http://www.voxeu.org/article/implicit-subsidy-banks This is worth a read on this subject by some very reputable authors.
http://www.cityoflondon.gov.uk/busi...on-of-uk-financial-services-sixth-edition.pdf Estimated total tax take was 13.9% to total tax in 2007 at £67.8bn before the crisis. Dropped to 11.2% and 53.4bn in 2010 and has risen again as Corky pointed out. In 2013 the estimate is that there are 1.02m people employed in Financial Services in the UK, a third of them in London.
