Rachel Reeves set to spare UK banks from Budget tax raid
Chancellor acknowledges lenders already pay high levels of tax by international standards
Chancellor acknowledges lenders already pay high levels of tax by international standards

Chancellor under pressure from some Labour MPs to raise levies on business this week

Burden to reach 38% of GDP by end of parliament

Chancellor lays groundwork for further tax rises in speech weeks ahead of Budget

UK chancellor predicted to plump for ‘least worst option’ of creating higher council tax bands

Labour MPs warn chancellor that a possible £1.5mn threshold for the new levy would be too low

Verdict from think-tanks is that Rachel Reeves has put fiscal repair job ‘on hold’