News
🚨 🇬🇧 UK bank tax rise reportedly temporary and below 8%
🚨 🇬🇧 UK bank tax rise reportedly temporary and below 8%
- 🇬🇧 The UK's increase in the bank tax surcharge will be temporary and set below 8%, according to a newswire report citing sources ()
- Earlier reporting had pointed to the surcharge rising to 8% from 3%, so this is a lighter hit than the City had feared
FO view: A smaller, time-limited bank levy takes some pressure off the FTSE's heavyweight lenders going into the Budget, though it also means a little less revenue to close the fiscal gap.
Not investment advice.