TUC Presses Healey to Restore Bank Surcharge, Citing £6bn Cost

The Trades Union Congress wants Chancellor John Healey to raise bank taxes in the 28 October Budget. It says cutting the bank surcharge — an extra tax on bank profits — from 8% to 3% in 2023 cost £6bn over three years. Reversing it could raise £9bn over four years. Healey must weigh revenue needs against competitiveness warnings.