Banks say Healey is planning Budget tax raid on their profits

Senior banking executives have told the BBC they expect the sector to be on the menu when the chancellor announces his Budget in two weeks' time. John Healey has described the banks as part of the crown jewels of the UK economy, yet has refused to rule out a raid on the sector. The biggest four banks collectively made around £15bn profit in the first six months of this year, leading to calls from trade unions and others for additional taxes. However, the banking sector trade body, UK Finance, warned that further increases in bank taxes would weaken competitiveness, discourage investment and job creation, and work against the government's ambition to deliver growth in every postcode. What is the Budget and what could be in it?