Rishi Sunak’s decision to cut banking surcharge costs public purse £29M/week, estimated £1.5B loss annually for next four years.

Breaking News: Rishi Sunak’s decision to cut the banking surcharge is having a significant impact on the public purse. A recent report reveals that the Treasury is losing an astonishing £29 MILLION every week due to this policy change. Over the next four years, it is estimated that this decision will result in a staggering loss of at least £1.5 BILLION annually. The Trades Union Congress has raised concerns about the long-term consequences of this move by Rishi Sunak. Stay tuned for more updates on this developing story.
Source : @The_TUC

BREAKING 🚨 | Rishi Sunak’s decision to cut the banking surcharge is costing the public purse £29 MILLION a week, according to our report.

We estimate that the Treasury will lose at least £1.5 BILLION annually over the next four years as result of the change introduced by Rishi…

— Trades Union Congress (@The_TUC) November 18, 2023