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UK Treasury to raise bank taxes
Finally, British Treasury Secretary John Healey plans to increase taxes on banks to fund measures supporting the cost of living and to achieve fiscal balance, as part of the budget plans scheduled for October 28. This move includes raising the additional charges on banks, which are currently at 3%, down from 8% until 2023 when they were reduced by the previous Treasury Secretary. These measures come in the context of the government's efforts to boost revenue without breaching the Labour Party's electoral commitments, amid ongoing speculation since Prime Minister Andy Burnham took office last July. The minister did not rule out the possibility of raising taxes during his attendance at International Monetary Fund meetings.
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