<p>Lobby group’s figures, shared with John Healey, are misleading as they do not include major rival Paris, say campaigners</p><p>A banking lobby group has been accused of cherrypicking data and trying to mislead the British government by claiming <a href="https://www.theguardian.com/uk-news/2026/oct/15/john-healey-raise-taxes-banks-budget">a tax rise for banks at next week’s budget</a> would leave London less competitive than rival financial hubs.</p><p>UK Finance, which represents banks including Lloyds, JP Morgan and Revolut, commissions an annual report tallying up all the taxes shouldered by a large bank, including corporation tax, social security, VAT and bank-specific levies.</p> <a href="https://www.theguardian.com/uk-news/2026/oct/24/banking-lobby-group-accused-cherry-picking-data-healey-tax-rise">Continue reading...</a>
World
Is London really the most-taxed city? Banks accused of cherrypicking data
<p>Lobby group’s figures, shared with John Healey, are misleading as they do not include major rival Paris, say campaigners</p><p>A banking lobby group has been accused of cherrypicking data and trying to mislead the British government by claiming <a href="https://www.theguardian.com/uk-news/2026/oct/15/john-healey-raise-taxes-banks-budget">a tax rise for banks at next week’s budget</a> would leave London less competitive than rival financial hubs.</p><p>UK Finance, which represents banks including Lloyds, JP Morgan and Revolut, commissions an annual report tallying up all the taxes shouldered by a large bank, including corporation tax, social security, VAT and bank-specific levies.</p> <a href="https://www.theguardian.com/uk-news/2026/oct/24/banking-lobby-group-accused-cherry-picking-data-healey-tax-rise">Continue reading...</a>