Budget 2026: If Healey really thinks banks are a jewel in the crown why is he raising taxes?

Banks already play billions in tax. If John Healey really wants to Budget for growth, investment and predictability, he should keep taxes stable, says David Postings Chancellor John Healey recently described banking as the “jewel” in the “British economic crown”. I completely agree. I have worked in banking for decades. Born in Wolverhampton, I know the importance of focusing on growth in every postcode. My banking career started in a branch in Bletchley, and I have seen first-hand how banks provide good jobs and help households and businesses to invest and grow. I was a trade union member, so I understand the argument being made by them for banks to make a substantial contribution to the public finances. They already do. But significantly increasing banks’ tax burden would have real world consequences in terms of lending, investment and growth that our country sorely needs. It would also notably affect lending and growth outside London.    That is why I believe the Chanc