UK Finance has cautioned Chancellor John Healy that the industry tax increases outlined in his autumn budget could undermine the nation's global competitiveness, according to a report by Sky News.
The trade body, whose membership roster includes Barclays, HSBC, Lloyds Banking Group, and NatWest Group, issued the warning in a letter dispatched on Thursday.
The communication stressed that further levies on the banking sector could potentially damage the United Kingdom's international standing.
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