Banking tax raid fears hit London lenders’ shares ahead of crucial budget
Summary
Equities belonging to several British banks dropped on Friday following reports that the government might increase the surcharge on financial institution profits. This market reaction comes ahead of the upcoming national budget announcement scheduled for late October.
Shares in some U.K. banks fell Friday after reports that the government is considering a higher surcharge on bank profits in the Oct. 28 Budget.
Source: Read the full story at US Top News and Analysis
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