Georges Elhedery, CEO of HSBC, has joined a raft of banking leaders to warn against increasing taxes on banks in the upcoming autumn budget. He said that UK banks already face the highest tax rates compared to other sectors, which could hinder investment and economic growth. Elhedery remarked: “Additional taxation on banks does run the risk of eroding our continued investment capacity.” However, he went on to express optimism about the UK’s economic resilience and highlighted the benefits of recent free trade agreements.
HSBC warns against bank tax hikes
15 responses to “HSBC warns against bank tax hikes”
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