UK's Healey says banks are 'really important' part of British economy

Banco Santander

15/10/2026 09:53

BANGKOK, Oct 15 (Reuters) - British finance minister John Healey said banks were a really important part of the UK economy, when he was asked by Bloomberg Television about recent conversations with them, amid speculation he could raise bank taxes at his October 28 budget.
"(Banks) are a really important part of the British economy. They're a part of the jewel, if you like, in the British economic crown, a big contributor to the economy and an important part of our business," he said, when asked about his recent conversations about banks ahead of the budget. 
However, when asked whether higher taxes on banks could be offset by lower capital requirements, he said he would not be drawn into speculation about the budget.
He told reporters in a separate briefing that he believes people too often see banks as big distant financial institutions and acknowledged he had decisions to make ahead of the budget.

 (Reporting by David Milliken, writing by Sarah Young; editing by William James)
 ((sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net))