Insight

In this section experts provide in-depth analysis of the important themes and issues facing the banking industry

9th Sep 2015 Back to top
8th Sep 2015 Back to top
  • Chief Executive’s newsletter – September 2015

    Anthony Browne

    Welcome to my newsletter

    Welcome back, I hope you’ve enjoyed the recent summer break.

    New bank tax threatens competitiveness

    London is one of the leading global financial centres, which is why I decided to write to the Chancellor last month about his latest plans for taxing the banking industry. Many of my members fear that the introduction of a Bank Corporation Tax Surcharge – announced in the Summer Budget – may affect the competitiveness of the UK as a centre for banking. It’s vital that the UK is seen as a stable and welcoming place to do business.

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    Written by Anthony Browne

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  • Chief Executive’s newsletter – July 2015

    Anthony Browne

    Chancellor announces further bank tax in Summer Budget

    There was disappointment felt across the City and beyond last week when the Chancellor used his Summer Budget to announce a new bank-specific tax, the fifth to be introduced in as many years.  Banks will face a new Corporation Tax surcharge of 8% – that means that the Government is taking another £1.7 billion from the banks over the next six years. All in all, we have worked out that banks in the UK have been singled out for an additional £40 billion of taxes over a decade.

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    Written by Anthony Browne