# NatWest boss urges Burnham to show some ‘ambition’ to turbocharge economy after Budget

- URL: https://talkfuse.com/story/natwest-boss-urges-burnham-to-show-some-ambition-to-turbocharge-economy-after-budget/
- Published: 2026-10-30T12:25:36+00:00
- Updated: 2026-10-30T15:20:49+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/money/markets/article-16251977/NatWest-blasts-lack-ambition-Budget-questions-Burnhams-growth-strategy.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Business, Economy, UK, World

## Key points

- NatWest’s chief called for a more ambitious, stable growth strategy.
- The bank’s third-quarter profit rose to £2.2 billion.
- Its temporary bank tax increase is expected to raise £1.5 billion.

## Summary

NatWest chief executive Paul Thwaite urged Labour to show greater ambition in its growth strategy after the Budget, arguing that economic momentum needs long-term stability on tax, spending, planning and regulation. He said next year’s Spending Review and Prime Minister Andy Burnham’s ten-year renewal plan would be important signals of the UK’s long-term direction.

Thwaite said the Budget’s temporary increase in the bank surcharge to 6 per cent, expected to raise £1.5 billion over 15 months, provided welcome clarity; bank shares rose after a lower-than-expected tax increase. NatWest reported third-quarter operating pre-tax profit of £2.2 billion, up about 2 per cent year on year, and net interest income of £3.6 billion, up nearly 9 per cent. It also reported £420 million in cost savings, while about 1,000 roles were cut during the quarter.

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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.