UK Banks Expect the Chancellor's Budget to Come for Them

Senior banking executives have told the BBC they expect to be 'on the menu' in the chancellor's Budget tax later this month. The BBC's headline puts it more bluntly — a planned raid on bank profits — but the reported basis is the industry's own expectation. That distinction is the story for now. An expectation is not a Budget measure: it is a sector telling a reporter what it believes is coming, with the actual answer due later this month. Whether the expectation hardens into policy is something the Budget decides, not the briefing.