CBI boss is to warn Chancellor John Healey that a mooted Budget raid on banks would be an 'own goal'
Healey is reportedly weighing a rise in the bank profits surcharge from 3% to 8%, reversing Jeremy Hunt's 2023 cut. CBI chief Rain Newton-Smith is set to tell business leaders on Wednesday that the sector supports over 650,000 jobs outside London. The cash is expected to fund cost-of-living help. Healey delivers his first Budget on October 28.
Healey has called the banks part of 'the crown jewels' of Britain's economy.
Andy Haldane, ex-Burnham adviser, predicts a 'Budget for the backbenchers' with more borrowing.
Healey has ruled out a capital gains tax hike pushed by Wes Streeting and Louise Haigh.
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