Banking chief warns Reeves against ‘quick fixes’ in Budget November 20, 2025 The boss of Britain’s trade association for financial services has warned Rachel Reeves against hiking taxes on banks at next week’s Budget. David Postings, chief executive of UK Finance, said London’s banking sector risked becoming less competitive with European peers if it were to face additional taxes. Speaking at a dinner for City execs at [...]
Unpopular opinion: Banks are taxed enough already November 20, 2025 Is Angela Rayner influencing the Budget from beyond the political grave? The former deputy PM and housing secretary was famously in favour of increasing the additional tax burden faced by banks. Ahead of this year’s Spring Statement, Rayner was riding high. With a confidence that turned out to be misplaced, she inserted herself into debates [...]
Banks back in Reeves’ tax targets amid Budget whiplash November 18, 2025 Britain’s banking giants are back in the Budget crosshairs as Chancellor Rachel Reeves mulls a tax raid on lenders’ profits. Banks had been expected to be spared from a tax grab in the forthcoming Budget due to Reeves’ inclination to protect the financial services sector, following a concerted lobbying effort by top finance chiefs. But [...]
Forget the naysayers, banks are still committed to climate action November 18, 2025 Headlines have decried the end of green finance, yet the vast majority of institutions remain committed to climate action, writes Bob Wigley.
Banks set to escape tax raid from Rachel Reeves after lobbying November 6, 2025 Rachel Reeves is expected to avoid a cash grab on Britain’s banking titans in her forthcoming autumn Budget after the industry flagged concerns around international competitiveness. The Chancellor is understood to be hesitant on targeting the banks for a cash raid after a string of warnings from top industry chiefs on the impact on economic [...]
Don’t penalise banks amid private credit jitters, Lloyds boss urges November 5, 2025 The chef executive of Lloyds Banking Group has weighed in on the bubbling tension in the private credit market with a stark warning. In a session with the House of Lords Financial Services Regulation Committee, Charlie Nunn said the UK needed to be “very careful not to make banks accountable for the risks of the [...]
AI drives surge in fraud as criminals turn to more sophisticated scams October 24, 2025 Fraud losses hit £629m in H1 2025, driven by new investment scams and record card fraud, as AI enables criminals to commit more sophisticated scams. For the first six months of 2025, there were over 2m confirmed fraud cases, a 17 per cent increase, according to trade body UK Finance, as criminals stole £629.3m, a [...]
UK banks tax rate rises as fears of a budget raid spike October 15, 2025 The tax rate on the UK banking sector rose in the last financial year as the industry braces for a potential hike to its financial burden in the Autumn Budget. A fresh study from banking industry body UK Finance and PwC revealed London lender’s total tax rate rose 0.6 per cent to 46.4 per cent [...]
EY: UK financial sector prioritises tech-savvy hires in AI era October 6, 2025 Over half of all of new non-executive directors appointed to British financial services companies over the past year have brought tech expertise, new research from big four accountancy giant EY has found. The figure, 52 per cent, shows a 16 per cent rise from the previous year, as AI continues to shift boardroom dynamics. While [...]
Mark Kleinman: City would sour on Reeves after bank tax September 11, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. This week he tackles what a bank tax would do to Reeves’ hard-earned City cache, a top pick for the new HSBC chair, and Oaknorth’s potential move abroad Will she or won’t she? The question of [...]