The UK Chancellor of the Exchequer confirmed that bank surcharges will be raised. Starting in January next year, the bank surtax rate will be raised to 3%, and the collection period will be 15 months. Earlier reports speculated that the tax rate could reach as high as 8%, but it appears that Healy has abandoned this plan. The Chancellor of the Exchequer said, “The country's leading global banking sector has contributed greatly to the UK, reflected in the taxes paid, jobs created, and supported industries and investments.”

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