Bank lobby chief warns Reeves over budget tax raid

Bank lobby chief warns Reeves over budget tax raid

In a letter to the chancellor obtained by Sky News, the UK Finance boss David Postings said she risked undermining economic growth if she increased the tax burden on UK lenders.

Bank lobby chief warns Reeves over budget tax raid | Money News | Tech, Entertainment, Sport, Fashion, Travel News

The head of Britain’s main banking lobby group has warned the chancellor against a budget raid on the industry, arguing that it would undermine her aim of delivering sustainable economic growth. In a letter to Rachel Reeves seen by Sky News, David Postings, the chief executive of UK Finance, said renewed speculation about increases to banks’ tax burden risked undermining their international competitiveness. Mr Postings’ letter was sent earlier t…

Rachel Reeves warned on bank tax by lobby group boss

Rachel Reeves has been hit with a firm warning from the banking industry to avoid taxes on the sector or risk harming economic growth. The Chancellor has received a letter from the boss of UK Finance – a lobby group for the banking industry – which details the harm of tax on the sector. David Postings, chief executive of UK Finance, praised Reeves’ recent regulation changes in the Leeds Reforms and plans to put the financial services sector at t…