Tory tax break for banks has cost UK public purse £6bn, says TUC
Exclusive: Chancellor urged to reverse Rishi Sunak’s tax surcharge cuts to claw back billions in lost revenue Business live – latest updates Tax cuts for big banks have deprived the UK government of £6bn in revenues, according to campaigners, who are calling on the chancellor, John Healey, to increase taxes and force lenders to pay their “fair share” in the upcoming budget.
Calculations by the Trades Union Congress (TUC), which represents unions with more than 5.3 million members across England and Wales, shows that the public purse is billions of pounds worse off as a result of tax cuts introduced under the Tory chancellor Rishi Sunak in 2023.
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The GuardianSource headline and summary supplied via NewsData.io. First collected by NewsJaws on 2026-10-10. This is an automated news brief, not original NewsJaws reporting. Dates reflect the source publication. Feed delays may apply.