Rachel Reeves could use bank windfall tax to plug Labour’s U-turns July 31, 2025 Rachel Reeves could launch a fresh tax grab on banks to plug the spending holes left by Labour’s recent U-turns, new analysis has found. The Chancellor is poised to hike taxes in the Autumn Budget after a series of government policy switches eroded her already wafer-thin fiscal headroom of £9.9bn. This comes as fresh research [...]
Autumn Budget 2024: Reeves spares banks from tax raid after lobbying October 30, 2024 The government has spared UK banks from a tax raid in its maiden Budget after lobbyists warned it could hurt the sector's international competitiveness.
Lloyds finance chief calls for ‘pro-growth’ Budget amid fears of bank tax raid October 23, 2024 Lloyds Banking Group’s finance chief has suggested tax rises on UK banks could hinder lending and investment as the sector braces for a possible raid in the government’s maiden Budget next week. Speaking after Lloyds’ third quarter results this morning, William Chalmers said banks are already among Britain’s biggest taxpayers and the FTSE 100 group [...]
UK banks brace for Budget tax raid despite lobbying efforts October 21, 2024 UK banks are bracing for a tax raid in Labour's maiden Budget as new analysis reveals the sector is already paying a significantly higher rate than counterparts in the US and EU.
Top UK bankers warn prospect of windfall tax is spooking investors October 9, 2024 Top bankers have warned that tough regulation and high taxes are denting investment in Britain’s financial services sector ahead of Labour's much-anticipated Budget on 30 October.
Lloyds, Barclays and Natwest could weather Labour tax raid, analysts say September 10, 2024 Lloyds, Barclays and Natwest would see their 2024 profits fall by “low single digits” if the Labour government decides to raise taxes on banks in October’s Budget, according to Bloomberg Intelligence. Bloomberg analysts said Lloyds Banking Group and Natwest would likely offset the hit to their profits by repricing their loans, while they did not [...]