Senior banking executives told the BBC they expect the financial sector to face higher taxes in the chancellor's upcoming Budget announcement later this month.
The executives indicated they anticipate their industry will be targeted for additional taxation as part of the government's fiscal plans. The comment reflects concern within banking leadership about potential new levies or tax increases directed at the sector during the Budget proceedings.
No specific tax proposals or amounts were detailed in the executives' remarks to the BBC. The timing suggests the Budget announcement remains imminent, giving banks limited clarity on what tax measures may be introduced.