Lloyds urges Healey to keep bank tax raid temporary

Lloyds Banking Group has urged Chancellor Rachel Healey to keep the £1.5billion bank surcharge temporary, advocating for a stable and predictable tax regime. Chief Financial Officer William Chalmers criticised the decision to link bank tax increases to energy bill support for households. He warned that extending the levy beyond March 2028 could hinder the banking sector, which provides essential loans to fuel UK growth, despite the current challenging economic environment facing the nation's financial industry.