Update
Tax Surcharge on UK Banks
The UK government's tax surcharge on major banks, expected to raise £1.5 billion, is projected to reduce 2027 earnings by about 4% at Lloyds and NatWest, and 1% at Barclays and HSBC. However, the time limit for the higher rate is uncertain, with the Trades Union Congress urging the government to consider extending and raising the surcharge if profits remain high.