British Banking Giants Deliver Tax Rise Warning to New Chancellor The news that British banking giants are urging restraint on tax hikes has set off a predictable alarm among fiscal hawks and a quiet satisfaction among those who think more taxes would be a welcome respite for the nation.
At first glance, this is merely the latest iteration of the eternal dance between industry lobbyists and governments desperate to balance the books.
But scratch beneath the surface, and you'll find something more complex at play. Britain's banking sector has been an oddity in recent years, its fortunes seemingly disconnected from those of the broader economy.