Banks Face Backlash Over Disputed Tax Data Ahead of Budget

Banking lobby groups stand accused of manipulating tax data to influence upcoming budget decisions.

Banking lobby groups are facing scrutiny for allegedly presenting skewed figures to British officials regarding financial sector taxation. Critics argue that comparisons omit key European rivals like Paris to falsely claim London suffers a competitive disadvantage. The controversy comes as the government prepares for its upcoming fiscal statement.

• The accusationCampaigners claim lobby groups deliberately omitted major financial centres like Paris from international tax comparisons.
• Who is affectedMajor financial institutions operating in London including Lloyds, JP Morgan and Revolut.