Tories to warn Burnham on ‘bending to left’ on bank tax raid Banking Kemi Badenoch is expected to fire a bank tax warning shot to the Labour government on Thursday during a visit to Edinburgh. The Conservatives will warn Andy Burnham against “bending the knee to left-wing backbenchers and trade union paymasters,” as the pre-Budget debate heats up. It follows the banking sector swinging into defence mode ahead [...]
UK bank bosses and John Healey set for tax showdown Banking When banking lobbyists geared up for an offensive ahead of the 2025 Budget, a tax cut barely made the wishlist. Modest in their ambitions, advocates were preparing to settle for anything that didn’t see their already eye-wateringly high tax bill rise. That is until, City AM understands, officials advised them to make a cut a [...]
Raising bank taxes will reduce jobs, former Chancellor Hunt warns Healey Banking Former Chancellor Jeremy Hunt has issued John Healey a major warning over any increase to the level of taxes paid by UK banks ahead of the forthcoming Budget. The top Tory MP, who has sat on the back benches since Labour came to power in 2024, said Healey must ignore the “siren voices” calling for [...]
Haigh and Healey to host business chiefs in Downing Street September 14, 2026 Louise Haigh and John Healey will lead meetings with top business chiefs in Downing Street this evening after Andy Burnham cancelled his official engagements following the death of his father. The First Secretary of State will host a roundtable with entrepreneurs, which is set to be followed by an evening drinks reception. The Chancellor and [...]
‘Calm before the storm’: City warns Healey growth spurt won’t last September 11, 2026 The UK economy’s surprise summer growth spurt is set to be “blown away” by a spike in energy prices and a recent surge in the cost of borrowing, economists have warned the government. Fresh figures revealed on Friday that the economy expanded 0.4 per cent in July, ahead of initial forecasts that predicted flat growth. [...]
JP Morgan boss issues bank tax warning to John Healey August 17, 2026 The boss of JP Morgan has issued a bank tax warning to John Healey as the Chancellor gears up to deliver his first Budget in October. Jamie Dimon, who has led Wall Street’s biggest bank since 2006, held a call with Healey on Thursday where the bank chief emphasised “getting public policy right” as crucial [...]
Big bank bosses on alert as tax noise gets louder under Burnham August 5, 2026 Banks have delivered booming profits for the first half of the year. In this week’s column Samuel Norman takes a look at how the calls for a tax rise on the sector will get louder under the new Prime Minister. “The saxophones are getting louder” is the internet’s new saying to depict growing anxiety. If you [...]
Lloyds beats profit target as bank sets sights on more cost-cutting July 30, 2026 Lloyds Banking Group beat its profit forecast for the first half of the year as the bank’s top boss laid out plans to make further cost savings in the years ahead. The FTSE 100 lender – which owns the Bank of Scotland and Halifax – recorded a £4.3bn pre-tax profit in the first half of [...]
Mahmood called for banker bonus tax to fix youth unemployment July 17, 2026 Shabana Mahmood has previously called for a tax on banker bonuses to fix youth unemployment in a move that will renew fears the sector could be targeted for a cash grab. The front-runner to be Andy Burnham’s Chancellor was a staunch supporter of a bill set out by Labour in opposition that sought to levy [...]
Bank of England warns Burnham of UK economy’s ‘big issue’ July 14, 2026 The Bank of England has warned Andy Burnham that economic growth remains the “big issue” facing the UK economy as he prepares to take the keys to Number 10. Andrew Bailey, the central bank governor, told policymakers on Tuesday that the UK has had “low growth for the best part of 16 to 17 years”. [...]