UK challenger banks are teeing off with the UK HMT and its plans to tax the banking sector, according to Katherine Griffiths writing in today's Times. Challenger banks, such as Metro Bank, One Savings, and Aldermore, met with Treasury officials to discuss raising the threshold on the tax from £25mio to £250mio or at least considering a tiered system based on profitability. The challenger banks also asked the government to lobby the EU on adjusting lower the risk weightings on mortgage lending and also discussed growth aspirations for the current account market.
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