UK banking industry warns Healey's tax plan could cut growth by £6B

John Healey: John Healey is a British Labour politician serving as Chancellor of the Exchequer since his appointment in July 2026. He previously held roles including Secretary of State for Defence and various shadow cabinet positions focused on housing and health. In his current position, Healey manages UK fiscal policy and is preparing his first budget amid discussions of potential tax measures affecting the banking sector. Government Role: John Healey serves as the UK's Chancellor of the Exchequer, overseeing economic and fiscal policy including taxation decisions. Industry Position: The UK banking sector has expressed concerns over proposed tax changes, highlighting potential impacts on competitiveness and economic growth. Budget Development: Healey is finalizing his first budget, with reported considerations around additional taxation measures for the banking industry.