Businessglobal-economy
UK Banks Brace for Potential Tax Hikes in Upcoming Budget
Senior banking executives anticipate that the UK government may target the sector for increased taxation in the upcoming Budget. Chancellor John Healey has not ruled out measures to capture more revenue from bank profits. Industry bodies warn that higher taxes could stifle growth and competitiveness. Meanwhile, the Treasury is exploring various options, including adjusting surcharges or limiting the use of historical loss offsets.