Politics
Unions urge UK bank-tax-funded energy tariff as JP Morgan warns chancellor against hike
September 10, 2026 at 08:27 AM
Coverage
3 reports · over 12 hours
TGThe Guardian
‘Fundamentally unfair’: Burnham must overhaul migration reforms, says TUC general secretary
(opens the publisher’s site)
BNBBC News
Tax banks to give some households energy bill cut, unions tell Burnham
(opens the publisher’s site)
TGThe Guardian
JP Morgan boss Jamie Dimon warns UK chancellor against bank tax hike
(opens the publisher’s site)TUC leader Paul Nowak urged Prime Minister Andy Burnham to fund an energy-bill social tariff by reversing the bank surcharge, as JP Morgan's chief warned the chancellor against raising bank taxes.
- TUC general secretary Paul Nowak said a social tariff, a discount on energy bills based on household income, could benefit two-thirds of households.
- Nowak said reversing the bank surcharge, cut from 8% to 3% in 2023, would raise £9bn over four years.
- JP Morgan chief executive Jamie Dimon warned Chancellor John Healey that higher taxes on banks could put UK investment and employment at risk.
- The banking body UK Finance argued heavier bank levies would damage the government's growth ambitions and international competitiveness.