UK to hike taxes on banks to pay for energy bill cuts

The Irish Times · Irlanda · Prensahace 6 horas

Britain will hike taxes on banks to pay for cuts to energy bills, it was announced on Wednesday in the first budget of Andy Burnham’s Labour government. John Healey, who has replaced Rachel Reeves as Britain’s chancellor of the exchequer, said he would add 3 percentage points to a levy on bank profits for 15 months from January.

Healey said the cash raised would be used to fund £100 council tax cash refunds to 20 million households, which is meant to offset some of the rising costs of fuel. The Labour Party politician also announced an increase in taxes ‌on gambling companies on Wednesday in his annual budget.

In his budget statement, Healey said the government would raise Machine Games Duty, a tax on the net takings from ⁠some slot machines, to 25 per cent from 20 per cent. The ‌new ‌taxes will impact companies such as Ladbrokes owner Entain…

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