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Barclays warns Burnham against windfall tax raid: Bank boss says new levy would curb lending and growth
['Patrick Tooher', 'Consultant City Editor', 'Jane Denton', 'Money Reporter']
Money | Mail Online
The boss of Barclays yesterday rejected growing calls for a windfall tax on banks.
The biggest banks, including Barclays, already pay a 3 per cent surcharge above the 25 per cent corporation tax rate.
TUC general secretary Paul Nowak said: ‘Big banks like Barclays are raking it in while working people and local businesses are struggling.
‘High interest rates have been a boon for banks, but have meant mortgage misery and higher bills for the rest of us.
Gary Greenwood, banking analyst at Shore Capital, said that while the investment bank was a ‘stand-out performer’, Barclays UK fell short of expectations and the US consumer bank underperformed.