UK Budget Doubles Bank Surcharge to 6%
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UK Chancellor Rachel Reeves announced in the latest Budget that the bank surcharge rate will rise from 3% to 6%, taking effect from January 2027 for 15 months. The increase is lower than the 8% level previously reported by the market. After the announcement, shares of major UK banks generally rose in London trading, with HSBC and Standard Chartered posting limited gains.
Generated by AI from reporting · updated 3 hours ago
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- 明報·每日經濟UK Budget Raises Bank "Windfall Tax" to 6% for 15 Months From January 2027
UK Chancellor Rachel Reeves announced in the latest Budget that the bank surcharge rate will rise from 3% to 6%, taking effect from January 2027 for 15 months. The increase is lower than the 8% level previously reported by the market, and shares of major UK banks traded broadly higher in London, with HSBC and Standard Chartered posting limited gains.
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