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))