Healey says banks are doing well as bank profit surcharge is expected in Budget

Summary

Chancellor John Healey is expected to increase the surcharge on bank profits in next week's Budget, according to The Guardian's live UK politics blog. Asked whether banks are making excessive profits, which would justify such a rise, Healey said: "You know the banks are the engine of investment in this country. The banks are doing well at the moment and that is good to see."

Timeline

1. The Guardian

   22 Oct 2026, 14:35 UTCSource ↗

   The Guardian's live UK politics blog reports that Chancellor John Healey is expected to increase the surcharge on bank profits in next week's Budget, and quotes him saying the banks are doing well.