How Andy Burnham could raise huge amount with tax raid on banks and oil giants

Andy Burnham is exploring a tax raid on oil giants and banks, including BP and HSBC, following reports of significant profit bonanzas linked to the Middle East conflict. While some argue these companies should pay more to support struggling households, HSBC chief executive Georges Elhedery has warned that such a windfall tax would damage economic growth. The proposal aims to offset financial fallout for ordinary citizens, despite warnings from the banking sector regarding potential negative impacts.