UK FACT CHECK POLITICS
UK FACT CHECK POLITICS
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QUOTE From: Budget 2026 live: Latest updates, analysis and fact checks

UK Finance criticises bank tax rise as Rupert Lowe claims debt has reached £3tn

The banking industry has criticised the Budget's higher taxes on banks. David Postings, chief executive of UK Finance, told LBC:

"Increasing bank taxes is not, in our view, the best way to deliver growth."

LBC reports that he also said the promise to make the rise temporary matters.

Rupert Lowe MP, leader of Restore Britain, said: "Debt is now three trillion pounds." The claim has not been independently checked against the official figures for public sector net debt.

The Green Party leader, Zack Polanski, posted on X: "Was that it? It all felt very familiar."

Small Business Britain's Michelle Ovens put the number of small businesses in the UK at 5.7 million.

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