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A windfall tax is a levy imposed on unexpectedly large or excessive profits, often considered unfairly obtained. In the financial world, this concept has recently gained traction as governments grapple with banks reporting massive profits.

Skip Montreux and Dez Morgan discuss the surge in bank profits across Europe and the role of interest rate hikes in this financial phenomenon. They’ll also examine how various European governments are taking action through measures like windfall taxes.

Join Skip and Dez and learn the answers to these questions:

Why are banks, particularly in Europe, reporting such significant increases in profits recently?

What is a “windfall tax”?

How are governments in different European countries responding to these soaring bank profits?

They also explain and give examples of these useful business words and phrases:

To hold your horses (idiom)

To be outsized (adjective)

To coin it (idiom)

The meat of something (idiom)

To reprimand (verb)