Mark Kleinman: City would sour on Reeves after bank tax

Mark Kleinman is Sky News’ City Editor and writes a column for City AM

Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. This week he tackles what a bank tax would do to Reeves’ hard-earned City cache, a top pick for the new HSBC chair, and Oaknorth’s potential move abroad

Will she or won’t she? The question of whether Rachel Reeves intends to hammer Britain’s banks with a new tax bombshell in her November Budget won’t be tugging at many heartstrings beyond the Square Mile.

Inside the industry, though, a frantic lobbying operation is well underway, cognisant of the dearth of meaningful levers the chancellor has available to pull if she is to honour Labour’s manifesto commitments, avoid hitting ‘working people’ (depending on