UK banks reportedly fall on potential tax increase in October budget
XLF•Shares of major UK banks fell after a report said Finance Minister John Healey plans to tax lenders in the October 28 budget. NatWest and Lloyds dropped about 2% each, while Barclays fell 0.5%.
1. Bank shares fall
Shares of NatWest and Lloyds fell about 2% each, making them the top drags in the FTSE 100, which was down 0.1%. Barclays shares edged 0.5% lower. The reported tax plan is aimed at keeping deficit-reduction plans on track after the Iran war affected public finances.
