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Chancellor Rachel Reeves is preparing to give her Autumn Budget next week, with speculation mounting on how she will continue to plug the reported £40 billion black hole.

On November 26, the Chancellor will outline the Labour Party Government's second budget, and new reports suggest she will target UK banks.

The Treasury is looking at increasing the bank surcharge with the hope it will raise at least £2 billion.

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The Daily Telegraph says the plan is still "on the table" after The i Paper initially reported the plans earlier this year.

Shampa Roy-Mukherjee, professor of economics at the University of East London, said: "As a result of higher taxes on bank profits, banks may pass on c

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