City gears up for a fight on bank tax under Burnham

Britain’s bankers fear a potential bank tax under Prime Minister Andy Burnham due to fiscal pressures, causing concern in the City of London. The Treasury, led by Chancellor John Healey, may target the financial sector for increased revenue, with industry executives panicking over a possible fall budget announcement. The return of Emma Reynolds and Lucy Rigby to Healey’s team has calmed some nerves but raised questions about regulatory continuity and fiscal policy.