John Glen says UK financial services needs 'competitive tax rates' - reports

8% tax surcharge

City minister John Glen has said that maintaining the competitiveness of the UK’s financial services sector relies on “competitive tax rates” and that this is “on the chancellor’s mind”, according to the FT.

The sector is currently subject to an 8% tax surcharge, which was introduced in 2015, on top of the corporation tax rate of 19%. While the economic secretary to the Treasury said he could not promise...