UK Chancellor of the Exchequer Rachel Reeves could boost revenues by imposing a windfall tax on commercial lenders to recover the profits they are making from taxpayers on deposits held at the Bank of England (BoE), Bloomberg reported on Friday.
The Institute for Public Policy Research estimates such a levy would raise £32.3 billion over the current five-year parliament and give Reeves £3.6 billion of extra headroom against her main fiscal rule.
Market reaction
As of writing, theGBP/USDpair was down 0.02% on the day at 1.3510.
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