UK probes bank tax leak

The British government has opened an investigation into the leak of details about a temporary increase of less than 8% in bank tax. The details were published before the budget announcement on 28 October and affected bank share movements, with shares rising after the increase proved smaller than banks had expected. The Treasury denied briefing banks or their representatives in advance, but acknowledged that it had widened the circle of officials with access to the budget’s details. The chair of the parliamentary Treasury Committee expects the investigation will not establish that any rules were broken, but called for those responsible for repeated leaks to be held accountable. She will seek answers from Finance Minister John Healey.

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