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The Independent UK
The Independent UK
Business
Holly Williams

Barclays joins rival in cautioning against hiking bank taxes

Barclays Venkat Rachel Reeves
The high street lender reported a 23% rise in pre-tax profits to £5.2 billion for the six months to June 30 (Jonathan Brady/PA) - (PA Wire)

The boss of Barclays has become the latest to caution the Chancellor against hiking taxes for banks in her autumn budget as she looks to bolster the public finances.

Group chief executive CS Venkatakrishnan, who is also known as Venkat, said that increasing taxes for banks – or other important sectors of the economy – was not consistent with aims to boost economic growth.

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