sunake s budget slashes taxe on bank profits

rachel reeves said it was wrong to slash taxe when “bankerse  bonuses are set
to reach a record high this year
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rishi sunak said he will slash a taxe surcharge on bank profits by more
than  per cent as the government scrambles to protect the city of
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the move is reportedly designed to offset a planned hike to corporation
taxe which lenders claimed would boost the burden on the banking sector
to such an extent that britain would become an unattractive place to do
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sunak said the surcharge cut would “ensure that banks continue to pay
their fair share of taxe while maintaining the uke s financial services
competitiveness and safeguarding british jobs and taxe revenue”

but his political adversaries hit out at the chancellor for slashing
taxe rates for banks as social care is being cut – and the £aweek
universal credit uplift is scrapped
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responding to the budget shadow chancellor rachel reeves said it was
wrong to reduce taxe when “bankerse  bonuses are set to reach a record
high this year” as dealmaking and trading surged to record highs
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sunak on thursday refused to commit to cutting taxe before the next
general election despite concerns among tory mps at the growing squeeze

after the budget took the taxe burden to its highest level since the
labour government of clement attlee in the s the chancellor said
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and he insisted that it remained his “ambition” to “lower taxe for
people” when the fiscal conditions allowed but declined to  drawn on
when that might 
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it said taxe bills had risen by £ per household since boris johnson
became prime minister in  while the weakest decade of pay growth
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that was echoed by the institute for fiscal studies which said there
would  “very slow growth” in living standards over the coming years
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“a middle earner is likely to  worse off next year than this as high
rates of inflation and taxe rises more than negate small average wage
increases” said ifs director paul johnson