Banks poised to escape tax rises in Rachel Reeves’s budget

The GuardianThursday, November 6, 2025 at 12:08:15 PM
Banks poised to escape tax rises in Rachel Reeves’s budget

Banks poised to escape tax rises in Rachel Reeves’s budget

UK banks are set to benefit as the chancellor has opted not to raise taxes on the sector in the upcoming budget. This decision has led to a rise in bank shares, with NatWest and Lloyds seeing significant gains. By keeping taxes stable, the government aims to ensure that banks remain competitive, which is crucial for fostering economic growth. This move is seen as a positive step for the financial sector and could have broader implications for the UK economy.
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