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Rachel Reeves could face £5.5bn taxpayer cash bill as new scandal looms

Rachel Reeves faces a potential £5.5bn taxpayer cash bill due to a car loan mis-selling scandal that threatens public finances.
Analysts at RBC Capital estimate that the Treasury could lose £5.5bn in corporation tax revenue due to compensation payouts for mis-sold car loans.
The Supreme Court has blocked Rachel Reeves's intervention in a case regarding unlawful commissions paid to dealers in car finance, worsening the controversy.
Lloyds Bank has increased its compensation provisions to over £1bn, anticipating costs related to the scandal's fallout.

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Daily Express

Rachel Reeves could face £5.5bn taxpayer cash bill as new scandal looms

If the Court ultimately upholds the Court of Appeal's previous ruling, it could trigger a huge wave of mis-selling payouts - enabling large corporations to cut their tax bills.

1 day ago·United Kingdom

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