Is London really the most-taxed city? Banks accused of cherrypicking data
Reported by The Guardian Business, not nibnow. We are not the publisher of this story, only the source is.
The claim that a tax increase could make London less competitive may influence government decisions on banking taxes and affect the city’s status as a financial hub.
Lobby group’s figures, shared with John Healey, are misleading as they do not include major rival Paris, say campaigners A banking lobby group has been accused of cherrypicking data and trying to mislead the British government by claiming a tax rise for banks at next week’s budget would leave London less competitive than rival financial hubs. UK Finance, which represents banks including Lloyds, JP Morgan and Revolut, commissions an annual report tallying up all the taxes shouldered by a large ba
UK Finance is a lobbying group representing major banks, and its annual tax report is used to argue about the impact of fiscal policy on the competitiveness of financial centres like London.
- •The upcoming UK budget announcement and any adjustments to bank tax proposals
- •Responses from government officials to the lobbying group's data
- •Potential revisions to the tax figures by campaigners or other financial centres