British banks resist profit tax hikes

The article focused on the efforts of British banks to prevent an increase in taxes imposed on them, warning that raising their profit tax to 8%, a level last seen before 2023, could lead to a decline in their profits by between 2-7%. The plan includes an additional 3% increase in taxes on banks, as part of Chancellor John Hiley's budget scheduled for October 28. Banks expect to be able to bear these increases thanks to their high returns and profit redistribution. The government aims to boost revenue, despite ruling out an increase in capital gains taxes. The banks remain prepared to handle the new burdens, while the tax plans are seen as part of broader efforts to reduce the budget deficit.

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