AJ Bell sees UK banks as potential targets for higher taxes in Budget

AJ Bell’s October 14 analysis flagged UK banks as potential tax targets in Chancellor John Healey’s October 28 Budget. Higher bank taxes could constrain lending capacity or reduce shareholder dividends, potentially affecting retirement investors’ income. Oil producers could face an increase in the 38% energy profits levy or an extension beyond its March 2030 expiration. Gambling operators appeared more likely tax targets than oil producers, with a potential increase in slot machine duty. The proposed “Your First Home” scheme could support major property developers through 20% government-backed loans for first-time buyers with 2.5% deposits. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. AJ Bell plc published the original content used to generate this news brief on October 14, 2026, and is solely responsible for the information contained therein. (C)