The design and implementation of a bank levy

The Government has launched a consultation on the design and implementation of a bank levy. This consultation sets out proposals to address a number of operational issues around design and implementation, including definitions of who will pay the tax.

The Government believes that banks should make a fair contribution to the system, which reflects the risks they pose, and should be discouraged from risky funding practices.

The levy complements the wider agenda to improve regulatory standards and financial stability.

The Government would like to hear the views of business, as well as the views of representative bodies and tax advisers, on the proposals set out in this consultation document.

• Press notice: Coalition Government launches consultation document on Bank Levy
• Press notice: Speech by the Financial Secretary to the Treasury, Mark Hoban MP, at the British Banker’s Association Annual Industry Dinner, Mansion House
• Chancellor’s Mansion House speech, 16 June 2010