An increase in the levy on bank profits is expected to be the main tax-raising measure in Wednesday's Budget, Reuters reports in a preview published on Monday 26 October and carried by Global Banking & Finance Review. Earlier reports from Bloomberg and the Guardian said only that the Chancellor, John Healey, was weighing restoring the bank surcharge from 3% to 8%. Reuters does not give a rate.
Reuters says Healey looks set to deliver a cautious first Budget that puts bond-market stability ahead of big spending. It reports that he has hinted at "breathing space" for business from rising costs and is likely to offer some help to households facing another rise in energy bills.
The preview also reports that public debt passed £3 trillion for the first time in September and that the cost of servicing it has risen. That figure has not been independently checked.
Reuters adds that Healey, who quit as defence minister in a row over funding, may try to cover a near-term shortfall in spending plans for the armed forces.
The Treasury has not confirmed any of these measures.