Treasury ‘tells Healey’ to consider tax on banks and oil

cityam16:54

John Healey will face pressure to give the UK economy a much-needed boost. Chancellor John Healey has been presented with a plan to tax oil firms and banks further as bosses in the sectors have posted...

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Chancellor John Healey has been presented with a plan to tax oil firms and banks further as bosses in the sectors have posted...</p>\n\n<a href=\"https://www.cityam.com/treasury-tells-healey-to-consider-tax-on-banks-and-oil/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XES","symbol_name":"SPDR S&P Oil & Gas Equipment & Services ETF","start_time":0,"source_url":"https://www.cityam.com/treasury-tells-healey-to-consider-tax-on-banks-and-oil/","article_id":"2663183049","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/07/Chancellor-John-Healey-2.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/treasury-tells-healey-to-consider-tax-on-banks-and-oil/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2663183049","pubTimestamp":1788080055,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"John Healey will face pressure to give the UK economy a much-needed boost. 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Chancellor John Healey has been presented with a plan to tax oil firms and banks further as bosses in the sectors have posted huge profits, according to reports. Healey may look to tax businesses at this year’s Budget in order to rebuild a partly-eroded £22.7bn fiscal buffer, and fill spending pledges for defence and the cost of living. It was reported in Bloomberg that Treasury officials believe windfall taxes on banks and oil companies could be “low hanging fruit” for increasing government receipts. \n\nThe mooted plan could put City bosses on edge in the two-month run of lobbying and speculation ahead of this year’s Budget. Citigroup boss Dame Jane Fraser warned Healey against a new banking tax while industry officials at UK Finance have written to the Chancellor to warn of the risks of hitting the financial services sector.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHealey is tasked with finding £4.7bn in extra government revenue over four years to fund the defence investment plan as well as another £10bn in cuts across departments. \n\nHis fiscal buffer has also partly eroded, according to economists. The Resolution Foundation believes it could be as low as £8bn, which would be a narrow margin and leave public finances more exposed to shocks from higher energy prices.Tax hikes loomNew public sector pay rise pressures could also be loaded on the government.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"policyRegulatory","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.48.0","shortVersion":"4.48.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2663183049","isCrawlerRequest":true}