P208news.today208Wed 28 Oct12:35
NEWS.TODAY
BUSINESS 8/9
Chancellor expected to raise bank tax ahead of HSBC profit surge
Chancellor John Healey is expected to increase the bank surcharge from 3 per cent to 8 per cent as HSBC reports profits of £7.2 billion in the third quarter.
Chancellor John Healey is expected to raise the bank surcharge from 3 per cent to 8 per cent in his first Budget. The move comes after HSBC reported a 32 per cent rise in quarterly profits to £7.2 billion. Trade unions and campaigners back the tax increase, while banks warn it will harm competitiveness and push up mortgage costs.
From 3 outlets:
Summary written by AI from these reports. See news.today/ai
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