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Bank tax rise expected in Healey’s first Budget

John Healey was finalising his first Budget before the October 28 statement, with a higher tax rate on bank profits expected to be a major revenue-raising measure.

John Healey was finishing his first Budget before 28 October. A bank tax rise was expected.

The tax could help pay for support. Families and businesses could get help with living costs.

People asked the Government not to raise other taxes. They also asked it to control spending.

Andy Haldane was a former Bank of England chief economist. He said spending control would help growth.

He expected more borrowing and tax rises. He said these would not help growth.

Section: London

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