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UK bank stocks rise after reports they may dodge budget tax raid
Thu, 06th Nov 2025 08:18
Nov 6 (Reuters) - A gauge of British bank stocks rose in steady markets on Thursday after the Financial Times reported Chancellor Rachel Reeves was set to spare them from a punitive budget tax raid.
The FTSE 350 Banks Index gained 1.3%, outperforming the flat FTSE 100 and FTSE 250.
According to the FT, Reeves and others involved in budget preparations say banks in Britain already pay high levels of tax by international standards. (Reporting by Danilo Masoni; editing by Dhara Ranasinghe)
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