City gears up for a fight on bank tax under Burnham
News Financial Services UK City gears up for a fight on bank tax under Burnham The U.K.’s financial powerhouse is breathing a sigh of relief on key Treasury appointments — but fears a re-run of a fight about bank tax. The new U.K. prime minister has taken office with gaps of billions of pounds in depleted government coffers, huge ambitions to revitalize Britain’s industry, and little space to borrow more on the financial markets. Given that squeeze, the City of London worries a new team in the Treasury under Chancellor John Healey could find the sector a tantalizing prospect for a tax raid to try to balance the books.
- ▪News Financial Services UK City gears up for a fight on bank tax under Burnham The U.K.’s financial powerhouse is breathing a sigh of relief on key Treasury appointments — but fears a re-run of a fight about bank tax.
- ▪The new U.K. prime minister has taken office with gaps of billions of pounds in depleted government coffers, huge ambitions to revitalize Britain’s industry, and little space to borrow more on the financial markets.
- ▪Given that squeeze, the City of London worries a new team in the Treasury under Chancellor John Healey could find the sector a tantalizing prospect for a tax raid to try to balance the books.
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News Financial Services UK City gears up for a fight on bank tax under Burnham The U.K.’s financial powerhouse is breathing a sigh of relief on key Treasury appointments — but fears a re-run of a fight about bank tax. Listen AI generated Text-to-speech Copy Link Copied Share via email Share on X Share on WhatsApp Share on LinkedIn Free article usually reserved for subscribers Andy Burnham delivers his inaugural speech as the U.K.'s new prime minister, in London on July 20, 2026. | Dan Kitwood/Getty Images July 27, 2026 4:00 am CET By Hannah Brenton LONDON — Britain's bankers fear Andy Burnham could be about to hit them with a massive tax bill. The new U.K.
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