# Healey brushes aside warnings over higher mortgages and presses ahead with a tax raid on banks

- URL: https://talkfuse.com/story/healey-brushes-aside-warnings-over-higher-mortgages-and-presses-ahead-with-a-tax-raid-on-banks/
- Published: 2026-10-28T13:29:52+00:00
- Updated: 2026-10-28T18:36:18+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16245483/Healey-brushes-aside-warnings-higher-mortgages-presses-ahead-tax-raid-banks.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: World

## Key points

- Bank surcharge to rise by three percentage points temporarily.
- The levy will run for 15 months from January.
- Critics warn customers could face higher mortgage rates.

## Summary

Chancellor John Healey announced a temporary three percentage point increase to the bank surcharge, saying banks should help fund support for households facing higher energy bills. The decision matters because critics and analysts warn banks may pass the cost on through more expensive mortgages, lower savings rates or reduced lending and investment.

The surcharge will rise from three to six per cent from January for 15 months. Conservative leader Kemi Badenoch said the cost could fall on consumers, workers and shareholders, while UBS analysts also forecast pressure on mortgage and savings rates. The article reports that the average UK mortgage rate had risen from 4.25 per cent before the Iran war to 5.06 per cent, according to Rightmove.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.