Tesco Bank, Metro Bank and Aldermore put more pressure on Treasury over George Osborne's new bank tax

Lauren Fedor
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Banks such as Metro have shaken up the industry but will now face a higher tax bill
The government is expected to face fresh criticism this week as politicians and City bosses step up their attacks on a new bank tax.

Labour and the SNP have tabled amendments that would exempt challenger banks and building societies from having to pay an additional eight per cent of UK profits in corporation tax, the Sunday Times reported yesterday.

Shadow chancellor Chris Leslie said the government’s current proposals could “harm competition and diversity in the sector”.

Bosses from Tesco Bank, Metro Bank, Aldermore and others will meet a senior Treasury official later this week to voice their concerns over the proposals.

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