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TUC Urges Bank Surcharge Jump to 35%

By Drooid · Oct 9, 2026, 7:29 PM UTC · How we work

Summary

Story summary

The Trades Union Congress urges Chancellor John Healey to raise bank surcharge to pre-2023 levels at the 28 October budget.
In 2023 Chancellor Sunak cut bank surcharge from 8 % to 3 % to offset a corporation tax rise to 25 %.
TUC estimates a 35 % surcharge would raise £60 bn to fund easing household bills under Prime Minister Andy Burnham.

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Story summary

The Trades Union Congress urges Chancellor John Healey to raise bank surcharge to pre-2023 levels at the 28 October budget.
In 2023 Chancellor Sunak cut bank surcharge from 8 % to 3 % to offset a corporation tax rise to 25 %.
TUC estimates a 35 % surcharge would raise £60 bn to fund easing household bills under Prime Minister Andy Burnham.