Senior banking executives expect banks to be targeted by tax measures in the Budget later this month, according to comments indicating that the sector could be among the areas considered by the government.
The executives said they expected banks to be “on the menu” for a possible tax raid. Their remarks signal concern within the banking industry that the Budget could include measures affecting the sector.
No further details were provided about the possible tax changes, including their form, scale or which banks might be affected. The Budget is due to take place later this month, when the government’s plans are expected to become clearer.
