Revolut and Fintech Allies Push Healey to Increase Tax Surcharge Cap in Upcoming Budget

Revolut and banking rivals urge Chancellor Healey to increase tax surcharge threshold ahead of October 2026 Budget. Industry warns against new levies.

Editorial Desk

September 28, 2026 One Min Read

POLICY WIRE — City, Country — Revolut, the UK’s most valuable fintech company, is joining a coalition of challenger banks in urging Chancellor John Healey to eliminate the risk of an immediate tax burden on the financial sector during the upcoming budget.

A letter signed by major names including Revolut and Monzo calls for an increase in the bank tax threshold, as the sector faces growing pressure from potential regulatory changes. The UK Finance organization has also cautioned the new chancellor against imposing higher taxes before the October 2026 Budget.

📄 POLICY WIRE WHITEPAPER PUBLISHED: PAKISTAN’S NATIONAL SECURITY POLICY PRIORITIES

👉 READ BY CLICKING HERE

With two months until the first autumn budget under Andy Burnham’s leadership, the banking industry is closely watching developments. Healey has indicated he may reduce the government’s financial reserves to prevent future tax hikes, but industry leaders are pushing for stability and clarity in the fiscal plan.

Reporting by Policy-Wire (PW)

Author

Editorial Desk

Policy Wire is your go-to editorial hub for insightful perspectives and informed analysis on pressing policy issues, both regionally and globally. Over the years, Policy Wire has collaborated with leading international news agencies—including AFP, AP, Reuters, and others—to provide fact-based reporting and nuanced commentary. With a commitment to clarity and credibility, we aim to bridge the gap between complex policy debates and public understanding, ensuring that our readers stay informed on the issues shaping the world today.