Role
The BBA promotes a legislative and regulatory system for banking and financial services - in the UK, Europe and internationally - which takes account of the needs and concerns of 253 members, including 24 associate and 48 professional members.
The BBA engages with the UK government and politicians, devolved administrations and European institutions as well as the media and other key stakeholders to ensure the industry’s voice is heard and to highlight the strength and importance of UK banking.
In 2010, the BBA measured UK banks' aggregate balance sheet at £4.1 trillion. According to a PwC report commissioned by the City of London, UK banks contributed £63 billion in tax to the UK economy in 2010/11. The Bank of England argued that this revenue is offset by the cost of an 'implicit' taxpayer subsidy valued at up to £220bn through 2009 and 2010. The UK bank bailouts following the 2007–2012 global financial crisis have been estimated to have cost as much as £850 billion, dwarfing any tax revenue received from the businesses involved.
Read more about this topic: British Bankers' Association
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