Treasury Committee flags potential bank tax Budget leak to FCA and Treasury

The letters, dated 28 October, raise concerns that information about the government's planned increase to the bank surcharge was published before John Healey delivered his Budget speech, potentially giving investors an advantage and affecting bank share prices. The intervention follows a Bloomberg article, titled Healey's Bank Tax Hike to Be Less Severe Than Lenders Feared, published at 10:45am on Budget day. The article reported that the surcharge increase would be less severe than lenders had feared, with the rate not reaching 8% and the increase being temporary. Labour's Budget ...