Finance Bill

To correct the hon. Member for West Suffolk (Matthew Hancock), it is just not true to say that the banks are going to pay more. Deutsche Bank has said:""Taking 2% off the 2012 tax rate for the five banks listed in the UK would increase profit by £1.16bn, that is it should almost offset all of the banks tax. Overall a good outcome for the banks."" Similarly, HSBC said:""We'd expect most domestically-orientated banks, for example Lloyds, to be better off after four years than they were pre-budget"."