# Lloyds boss backs devolution plan – but warns against further taxes on banks

- URL: https://talkfuse.com/story/lloyds-boss-backs-devolution-plan-but-warns-against-further-taxes-on-banks/
- Published: 2026-10-26T17:38:53+00:00
- Updated: 2026-10-27T01:35:50+00:00
- Original publisher: The Independent (publisher lean: Left)
- Original article: https://www.independent.co.uk/news/business/lloyds-charlie-nunn-bank-tax-devolution-b3073293.html
- Topics: Politics

## Key points

- Lloyds chief Charlie Nunn warned against further taxes on banks.
- He said devolution could help government deliver growth.
- He also pointed to AI’s potential to retrain workers and advise customers.

## Summary

Lloyds Banking Group chief executive Charlie Nunn has backed devolving more decision-making to local authorities, saying it could help government deliver economic growth. Ahead of the Budget, he also urged ministers not to impose additional taxes on banks, arguing that higher taxes could discourage investment and lending.

Nunn said local authorities and mayors can connect land, businesses and universities to make better use of regional assets. He described artificial intelligence as a major opportunity to retrain workers and improve customer advice, while saying more thought was needed about regulation. Banks are widely expected to face extra tax measures in the Budget on 28 October; tax advisers say any new charge would come on top of a higher corporation tax rate than when banks last faced a windfall tax.

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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.