LONDON, Oct 20 (Reuters) - British banks are calling for thegovernment to phase out an extra tax on profits at a time ofsignificant upheaval following Britain's vote to leave theEuropean Union and its potential hit to London's financialdominance.
In January the government imposed an extra 8 percent tax onbank profits above 25 million pounds ($30.8 million) to runconcurrently with an additional levy on their balance sheets.
"Banks are firmly committed to paying our fair share but weare now at a tipping point that threatens UK jobs and growth,"Anthony Browne, chief executive of the BBA, the UK's largestbank lobby group, will tell a conference on Thursday.
"It is essential that the UK remains a competitive place todo business for international banks," he added in remarksreleased ahead of his speech.
Bankers have warned they will have to start movingoperations out of London as early as next year if Britain losesaccess to the European Union single market.
Britain could safeguard London as a top banking centre byscrapping the levy on bank's balance sheets and surcharge onprofits, or drastically reducing both if this was notpolitically possible, think-tank Open Europe said in a reportearlier this week. ($1 = 0.8130 pounds) (Reporting by Andrew MacAskill; Editing by Keith Weir)