Senior executives from several of Britain’s largest banks met Chancellor John
Healey on Tuesday morning to lobby against higher bank taxes ahead of this
month’s budget, sources said. Attendees from Barclays, HSBC, Lloyds Banking
Group, NatWest Group, Nationwide and Santander argued raising levies would
undermine the government’s growth objectives and widen London’s competitiveness
gap with centers such as New York. Healey told the banks the government faces a
"difficult fiscal position" but gave no clear indication whether the budget will
raise the sector’s tax burden. The meeting is likely their last with Healey
before the budget.
