UK bank tax follows ‘facile and fallacious logic’: Barclays CEO
Key Points
- Barclays CEO says an increase in bank levy will force the sector to cut back on hiring and lending to the U.K. economy.
- C.S. Venkatakrishnan said London was already taxing the banking sector more than other major financial centers.
- Despite the criticism, the British bank CEO said the Labour government in the U.K. was a “‘pro-business government”. “I have felt it since the day they walked in,” he added.
Read More: UK bank tax follows ‘facile and fallacious logic’: Barclays CEO