U.K. bank shares slide on windfall-tax uncertainty, Jefferies says
U.K. bank stocks are pressured by late-2026 sector catalysts, including potential tax increases and a banking surcharge rise of 5 percentage points, Jefferies’ Jonathan Pierce said.
U.K. bank stocks are struggling due to a range of sector-specific catalysts toward the end of 2026 that could go either way, including potential tax increases, Jefferies' Jonathan Pierce says.
Some campaigners are calling for a windfall tax, or to increase the banking surcharge by 5 percentage poin…