UK to Cut Tax Surcharge on Bank Profits -FT
--Chancellor of the Exchequer Rishi Sunak, the U.K. Treasury
chief, will reduce a tax surcharge on bank profits by more than 60%
in his Autumn Budget and Spending Review, to be presented to
parliament on Oct. 27, the Financial Times says.
--Mr. Sunak is reducing the surcharge to help keep the City of
London as a competitive global financial center after Brexit, the
--The chancellor will cut the surcharge to 3% from 8% beginning
April 2023, the FT reports, citing people briefed on the
Full story: https://on.ft.com/2XrUAWg
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(END) Dow Jones Newswires
October 20, 2021 03:12 ET (07:12 GMT)
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