The Chancellor, John Healey, might bring in a one-off windfall tax on financial institutions, according to a Times report relayed by the Spectator.
The Spectator's morning newsletter says the Times suggests the levy as a possibility. It also says the Telegraph and the Guardian reported that Healey will raise taxes on banks to keep deficit reduction on track amid higher borrowing costs.
A windfall tax would be a separate measure from the reported rise in the bank surcharge from 3% to 8%, covered earlier on this blog.
Both remain reports until they are confirmed in the Budget statement or by the Treasury. The windfall tax suggestion has not been independently checked.