UK Chancellor John Healey has dropped his strongest hint yet of higher taxes on banks, saying he has "decisions to take" in the upcoming Budget regarding financial services. Speaking in Thailand at IMF/World Bank meetings, Healey noted banks are "hard‑wired into the economic fabric" but added he will outline his plans in two weeks. The government aims to curb the budget deficit without breaking manifesto pledges on income tax, VAT, or national insurance, with a possible reversal of former Chancellor Jeremy Hunt’s cut to the bank surcharge on corporation tax (from 8% to 3%). Meanwhile, Bank of England Governor Andrew Bailey cautioned it was "early days" on energy price impacts. Other news includes Britain courting UBS for a London HQ move, German leader Friedrich Merz vowing to fight on amid CDU turmoil, UK youth welfare reforms, a new Apple‑Meta AI model, and US considerations on easing sanctions on Russian/Iranian shadow tankers.
Healey’s comments come as the UK seeks fiscal balance. By potentially raising the bank surcharge, the Treasury could generate additional revenue while sidestepping direct tax hikes on individuals. The move reflects a broader trend of targeting financial sector profits to fund public spending.
In other headlines, the EU will release September inflation data, and a nationwide "No Kings" protest is slated for tomorrow. The Labour government’s outreach to UBS underscores ongoing efforts to attract global financial institutions post‑Brexit.
উৎস: Financial Times Companies · সারাংশ: HeadlinesBriefing