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A new political party has proposed a "gouging tax" to take on bank profits.
The Bank Reform Party has announced details of what it says will be its centrepiece policy. The proposed "gouging tax" would hit banks if they fail to pass on rate cuts in line with easing funding costs.
The BRP has said it will set up an independent panel to review funding costs, revenue and margins to determine if banks were being "honest" in their assessment of mortgage rates.
