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U.K. should hit the brakes on bank levy hikes Add to ...

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The U.K. should resist yet another bank levy hike. When the coalition’s annual tax on lenders’ balance sheets was announced in June of 2010, it looked a smart way to raise cash while encouraging banks to slash risky short-term funding. But bankers now expect a third hike in the levy’s rate. This sensible tax risks becoming a joke.

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