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Healey Raises UK Banks Tax, Vows to Keep Finances Stable

Bloomberg Markets Wednesday 28 October 2026, 14:19 UTC 1 min read
Key Points

Chancellor of the Exchequer John Healey pledged fiscal discipline in the face of harsh global economic conditions as he delivered the first budget of Andy Burnham’s new Labour administration. His measures included a plan to impose an additional 3% tax on banks, increasing the existing surcharge to 6%. Bloomberg's Caroline Hepker reports from Westminster.

Chancellor of the Exchequer John Healey pledged fiscal discipline in the face of harsh global economic conditions as he delivered the first budget of Andy Burnham’s new Labour administration. His measures included a plan to impose an additional 3% tax on banks, increasing the existing surcharge to 6%. Bloomberg's Caroline Hepker reports from Westminster. (Source: Bloomberg)
Healey (ORG) UK (LOCATION) John Healey (PERSON) Andy Burnham’s (PERSON) Labour (ORG) Bloomberg (ORG) Caroline Hepker (PERSON) Westminster (LOCATION)
Originally published by Bloomberg Markets Read original →

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