# Marra urges bank tax rises as critics warn mortgage borrowers may pay the price

- URL: https://talkfuse.com/story/new-scottish-labour-leader-marra-tells-healey-to-hammer-bank-profits-in-the-budget-amid-warnings-move-could-push-up-mortgage-costs/
- Published: 2026-10-26T10:18:35+00:00
- Updated: 2026-10-26T10:27:59+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16238951/Scottish-Labour-leader-Marra-Healey-hammer-bank-profits-Budget.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: World

## Key points

- Marra wants banks to pay more tax in the Budget.
- Critics warn the levy could raise mortgage costs.
- Barclays made £2.3 billion in quarterly pre-tax profit.

## Summary

Scottish Labour leader Michael Marra has urged Chancellor John Healey to raise taxes on major banks in the Budget, arguing that their high profits make a further contribution fair. The proposal has drawn warnings that banks could pass the extra costs on to mortgage holders.

Marra said the biggest banks made around £15 billion in the first half of the year and called for a progressive approach to funding public services. Shadow chancellor Andrew Griffith said higher bank taxes could push up already high mortgage rates, while former cost-of-living tsar Richard Walker cautioned against further business taxes. Barclays reported quarterly pre-tax profits of £2.3 billion, up 12 per cent year on year, and said it plans to cut 5,000 jobs.

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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.