BBA statement on bank levy1
08/02/2011

UK banks fully understand the government's need to raise revenue and the role they must play in the economic recovery.

The levy is nothing new and the only difference is that the government is bringing it in now, rather than phasing in the full amount. However the levy itself is complex  and will hit our most global banks hardest as they operate and pay tax across national boundaries. Changing the tax goalposts also makes things harder - all organisations want a predictable tax regime so they can plan their businesses accordingly and constant chopping and changing risks making the UK a less attractive place for businesses to operate.

Notes to Editors

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