16
John Healey poised to raise taxes on banks in budget (www.theguardian.com)
submitted 4 days ago by to c/uk_politics@feddit.uk
7 comments fedilink hide all child comments
 

Apparently the Chancellor wants to reverse a cut to a surcharge that banks pay on their profits, on top of normal corporation tax. The surcharge was 8%, then Jeremy Hunt cut it to 3%, so Healey apparently might set it back to 8%.

[Healey is] believed to be minded to increase the surcharge banks pay on their profits, over and above corporation tax. Industry figures believe that will probably mean raising the surcharge back to 8%, from 3% at present.

Thoughts?

you are viewing a single comment's thread
view the rest of the comments
[–] 1 point 3 days ago (1 child)
  1. Good pun!
  2. That is a good point about them not leaving. Although I suppose any bank could choose to stop operating in the UK if they really didn't want to pay the extra percentage. Seems unlikely though
  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 1 point 3 days ago

    yeah a bank could stop operating but it means no access to uk money. like other corps could theoretically leave and sell products to somewhere where it ultimately gets to the uk. I guess relistically though they all face that but I was thinking banks are a bit more stuck.

  • permalink
  • fedilink
  • source
  • parent