Farage reveals tax on banks: ‘This will be tough to accept’

NIGEL

- By Samuel Norman

Farage has confirmed Reform UK would slap a tax on banks in an escalation of his party’s tensions with the City.Speaking at the World Economic Forum in Davos, Farage said: “This will be tough for banks to accept but I am sorry — the drain on public finances is just too great.”

He framed the move as not a direct tax but said banks were “not going to get free money any more”.

A levy on the sector was previously floated in Reform’s manifesto, leading to the industry warning of “real consequences in the economy”.