The chief executive of Barclays has warned the government against pushing up public sector pay or raising further taxes on banks as chancellor Rachel Reeves searches for ways to plug a looming fiscal gap. CS Venkatakrishnan said curbing government spending and tackling wage-driven inflation should be priorities as ministers prepare the November budget. The Barclays boss also urged ministers not to treat banks as a tax target. “UK banks are taxed more than banks anywhere else. UK bank shares shed more than £6 billion in value last month after renewed speculation over tax hikes spooked investors.