A senior adviser to Greater Manchester Mayor Andy Burnham has challenged calls from the Trades Union Congress to increase banking taxes. The union argues that reinstating a previous financial surcharge could generate substantial public revenue, but Burnham's team appears to disagree with this approach.

The Trades Union Congress estimates that restoring the previous surcharge could raise approximately £9bn for public finances. This revenue projection represents a significant sum that could fund various government initiatives or help address budget pressures. However, the policy faces opposition from influential political figures.

Banking sector representatives have historically resisted higher tax burdens, arguing that increased levies could impact lending capacity and economic growth. The debate reflects broader tensions between labor groups seeking greater corporate contributions and policymakers concerned about economic competitiveness.

The disagreement highlights ongoing discussions about how the financial sector should contribute to post-pandemic recovery efforts, with implications for both fiscal policy and regional governance strategies in England.