Goods & Service Tax (GST) 29 July 2026
Banks Tax Increase Urged
The TUC is calling for an increase in tax on banks such as Barclays, which has seen its profits soar and has increased its half-year bonus pool by nearly 30 percent, with the argument that the lender can easily afford to pay more tax, given its current financial situation and the fact that it is increasing bonuses for its employees, which could potentially lead to increased revenue for the government through taxation
The UK bank *Barclays* has seen its profits soar, prompting the TUC to call for an increase in tax on banks. The lender has increased its half-year bonus pool by nearly 30 percent. Some of the key points include:
- Increased bonus pool for employees
- Soaring profits for the bank
- Call for increased tax on banks such as Barclays,
The argument is that the lender can easily afford to pay more tax, given its current financial situation and the fact that it is increasing bonuses for its employees.
Need help understanding this update?
Connect with our domain experts instantly via WhatsApp for customized legal guidance.