windfall

For example, bank shares fell on suggestions the chancellor would enact a think tank report on windfall taxes, published when she was on holiday, that she has never even read.

"We need a progressive tax system – a tax on online gaming companies and gambling companies, a tax on windfall profits which the banks and financial institutions have seen over the last couple of years."

Given the government's pledges, speculation has grown over what taxes Reeves could increase, which suggestions ranging from a windfall tax on the profits of banks to various property taxes or reforming the council tax system.

Three years ago, an energy profits levy - or windfall tax - was introduced when prices spiked, taking the headline rate of tax on profits to 78%.

Conservative leader Kemi Badenoch has called for an end to the windfall tax on oil and gas companies and said new licenses should be issued for drilling in the North Sea.