Healey eyes bank surcharge hike to 8% as CBI boss prepares to warn a City raid would be an 'own goal'
The mooted £2bn hit on bank profits would reverse Jeremy Hunt's 2023 cut and is reportedly the biggest money-raiser in John Healey's first Budget on October 28. The cash is expected to fund cost-of-living help for less well-off households. CBI chief Rain Newton-Smith is to tell a British Museum audience tonight that the City already pays more than global rivals. Union chiefs are pushing for the raid.
Healey has ruled out a capital gains tax hike, rebuffing Wes Streeting and Louise Haigh.
Andy Haldane expects 'a Budget for the backbenchers rather than for business'.
Newton-Smith says financial services support more than 650,000 jobs outside London.
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