|
Banco Santander SA Executive Chair Ana Botin criticised the UK’s bank tax regime, arguing it ‘makes no economic sense’ to impose additional levies on lenders beyond standard corporation tax, the Financial Times reported on Monday. Botin told the FT that banks already pay around 30% in corporate taxes and questioned why the sector should face extra charges through the UK’s bank levy and bank surcharge, which were introduced following the 2008 financial crisis. ‘The question is, why single out the banks in particular and impose additional taxes?’ Botin said, according to the newspaper. She argued that banks play a key role in supporting investment and job creation through lending. The comments come amid concerns in the banking sector that lenders could face higher taxes if the UK government adopts a more interventionist approach in future, the FT reported. Botin’s remarks follow similar warnings from senior banking executives, including JPMorgan Chase & Co Chief Executive Jamie Dimon and Barclays Chief Executive CS Venkatakrishnan, who have cautioned against increasing taxes on banks. A UK Treasury spokesperson told the FT that banks ‘play a crucial role in growing the economy, helping firms to invest and supporting public finances.’ It added that the Treasury had eased pressures on the sector through policy reforms and cutting red tape while strengthening banks’ ability to support lending and investment. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
