Reeves weighs up tax hike on banks that could raise £2bn

Reeves weighs up tax hike on banks that could raise £2bn

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Reeves to relax planning laws and target banks with £2bn tax rise in bid to stabilise public finances – Your Capital Minds

Rachel Reeves is poised to unveil a package of planning reforms and tax increases in her first full Budget on 26 November, as the Chancellor faces the daunting task of closing a £30 billion shortfall in the public finances. The Treasury is said to be exploring a range of measures to stimulate growth while raising revenue, including restoring the bank surcharge to 8 per cent—a move expected to generate around £2 billion annually. The levy, impose…

Reeves to relax planning laws and target banks with £2bn tax rise in bid to stabilise public finances

Rachel Reeves is poised to unveil a package of planning reforms and tax increases in her first full Budget on 26 November, as the Chancellor faces the daunting task of closing a £30 billion shortfall in the public finances. The Treasury is said to be exploring a range of measures to stimulate growth while raising revenue, including restoring the bank surcharge to 8 per cent—a move expected to generate around £2 billion annually. The levy, impose…

Autumn Budget: UK Banks in the crosshairs - IFA Magazine

UK banks could face higher taxes as the Chancellor looks to raise revenue, with a surcharge hike or tweaks to Bank of England reserve interest among the likely options. Matt Britzman, senior equity analyst at Hargreaves Lansdown, says the sector’s profitability and outlook remain resilient despite potential changes. Matt Britzman, senior equity analyst, Hargreaves Lansdown: “UK banks are heading into the autumn Budget with a target on their back…

Autumn Budget: UK Banks in the crosshairs

Rachel Reeves 'to loosen planning rules again and hit banks for £2bn' as she scrambles to balance the books at her Budget

The Chancellor is scrambling to fill an estimated £30billion black hole in the public finances before she presents her next tax and spend package on 26 November.