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UK investigates budget leak on bank tax

Britain investigates how bank tax rise details leaked to media before the budget. Officials found no early industry briefings, but queries remain.

Britain's Chancellor of the Exchequer, John Healey, holds up the traditional red ministerial box outside No 11 Downing Street before departing to the House of Commons to deliver the first budget under Prime Minister Andy Burnham's government, in London, Britain, October 28, 2026. REUTERS/Dylan Martinez/Pool

The United Kingdom launched an official inquiry into how details of a temporary bank tax rise leaked to the media ahead of the October 28 budget. The probe follows a parliamentary committee letter published Tuesday detailing the premature disclosure. The leak triggered a stock rally for lenders after reports indicated a smaller levy than anticipated.