Bank share prices tumble after calls for tax on profits

The share prices of leading UK banks have tumbled following calls for the government to introduce a new tax on banking profits.Traders and investors have reacted to the Institute for Public Policy Research (IPPR) saying a windfall tax could raise up to £8bn a year for the government.The think tank said the policy would compensate taxpayers for losses on the Bank of England's cash printing drive. While the…