Banks say Healey is planning Budget tax raid on their profits — Live Feedhttps://www.live-feeds.com/feed/banks-say-healey-is-planning-budget-tax-raid-on-their-profitsContinuously updated, source-cited coverage. Banks anticipate tax raid in John Healey's upcoming Budgethttps://www.live-feeds.com/feed/banks-say-healey-is-planning-budget-tax-raid-on-their-profitshttps://www.live-feeds.com/feed/banks-say-healey-is-planning-budget-tax-raid-on-their-profits#u133136Sun, 18 Oct 2026 20:10:53 +0000Senior banking executives expect the government to target bank profits in the October 28 Budget. Reports from the BBC, The Guardian, and The Times indicate Chancellor John Healey is poised to raise taxes on the sector to increase government funds. While Healey has described banks as key to the economy, he has not ruled out tax changes. Market reaction has already seen bank shares drop amid speculation that the surcharge on profits will increase. Kemi Badenoch has sounded an alarm regarding the potential raid, while a union chief has urged the hike to target bumper profits.Why it mattersThe UK