Business

London Banks Face Potential Tax Increase

Updated 2026-10-16 11:25 UTC 1 source Negative

Reports suggest the U.K. government is considering a higher surcharge on bank profits, causing shares in some London lenders to fall ahead of the Oct. 28 budget.

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CNBC

Banking tax raid fears hit London lenders' shares ahead of crucial budget

Shares in some U.K. banks fell Friday after reports that the government is considering a higher surcharge on bank profits in the Oct. 28 Budget.

2026-10-16 11:19 UTC