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Lloyds CFO Warns Against 6% Bank Surcharge Plan

By Drooid · Oct 29, 2026 · How we work

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Lloyds Banking Group CFO William Chalmers criticised Chancellor John Healey’s plan to double the bank surcharge to 6%.
Healey said the surcharge increase would be time-limited for 15 months to fund immediate energy-bill support.
Chalmers warned the tax link could extend beyond March 2028, harming banking competitiveness.
Lloyds reported third-quarter pre-tax profit of £2.3bn, nearly double the £1.2bn a year earlier.

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Lloyds Banking Group CFO William Chalmers criticised Chancellor John Healey’s plan to double the bank surcharge to 6%.
Healey said the surcharge increase would be time-limited for 15 months to fund immediate energy-bill support.
Chalmers warned the tax link could extend beyond March 2028, harming banking competitiveness.
Lloyds reported third-quarter pre-tax profit of £2.3bn, nearly double the £1.2bn a year earlier.