The Lloyds chief executive, Charlie Nunn, says banks are not making windfall returns, as the Chancellor, John Healey, is reported to be weighing a higher bank surcharge in Wednesday's Budget.
Speaking in the FT's Patrick Jenkins Interview, as relayed by the Independent via PA, Nunn said:
"Tax is obviously a matter for the government [...] we are not in an era of windfall returns"
He is the first major bank chief executive to speak on the record against further bank taxes. UK Finance has already lobbied against the measure. Bloomberg and the Guardian have reported that Healey is considering restoring the surcharge from 3% to 8%.
Blick Rothenberg told the Independent that when banks last faced a windfall tax, corporation tax was lower than it is now, so the combined hit would be bigger this time. That claim has not been independently checked.
In the same interview Nunn praised Andy Burnham's devolution agenda, saying it "done properly could unlock [...] the ability for government to actually get stuff done."
The Treasury has not confirmed any rise in bank taxes.