Barclays boss is latest to warn Rachel Reeves against hiking taxes for banks in the
The boss of Barclays has become the latest to warn Rachel Reeves against hiking taxes for banks in her autumn Budget.
The Chancellor is looking to bolster the public finances.
But CS Venkatakrishnan said increasing taxes for banks – or other important sectors of the economy – was not consistent with aims to boost economic growth.
He said banks were already ‘among the biggest tax payers in this country’ and an important sector to help drive economic activity.
Lloyds Bank chief executive Charlie Nunn and NatWest boss Paul Thwaite last week warned higher taxes would weaken lenders and the economy.
Warning: Barclays boss CS Venkatakrishnan (pictured) said increasing taxes for banks – or other important sectors of the economy – won’t help boost economic growth
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