British banking giants deliver tax rise warning to new chancellor

Britain's biggest banks have fired a renewed warning to the government against hiking taxes on the industry as John Healey, the new chancellor, prepares to deliver his inaugural Budget in October.

Chancellor John Healey does not have to raise taxes to offer the UK economy “immediate remedial action” at the Budget, a top City economist has said. Panmure Liberum economist Simon French, who formerly worked at the Treasury, said the fiscal outlook for the government would be…