MP George Osborne's has now joined the campaign against the 8% tax, by asking the Bank of England to review Andrew Tyrie tax raid on the banks to make sure the smaller challenger banks will still be able to grow, and take on the big lenders. As we noted previously, challenger banks have been asking for the threshold for paying the tax to be hiked to profits of £250m per year, whilst building societies are demanding that mutual lenders be exempted from the tax altogether, since they are not to blame for the financial crisis.
MP Andrew Tyrie has now joined the campaign against the 8% tax, by asking the Bank of England to review George Osborne's tax raid on the banks to make sure the smaller challenger banks will still be able to grow, and take on the big lenders. As we noted previously, challenger banks have been asking for the threshold for paying the tax to be hiked to profits of £250m per year, whilst building societies are demanding that mutual lenders be exempted from the tax altogether, since they are not to blame for the financial crisis.