U.K. Banks Face Government Levy
Five U.K. banks may have to pay hundreds of millions of pounds in a levy that aims to charge them for the risks they pose to the country’s economy.
The planned bank levy will raise a total of 2.5 billion pounds ($3.59 billion) a year from 2012 onwards, The Wall Street Journal said.
The levy has two goals, according to Financial Secretary to the Treasury, Mark Hoban.
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U.K. Banks Face Government Levy originally appeared on DailyFinance on Thu, 09 Dec 2010 09:02:00.
Filed Under: Company News, Taxes, Credit