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Confirmed

London temporarily doubles bank surcharge to support households

British Chancellor John Healey announced on 28 October 2026 that the bank surcharge would rise from 3% to 6% from January 2027 for fifteen months.

Bank of England, London, June 2015. Archive illustration; this institution is not announcing the tax measure. DAVID ILIFF, CC BY-SA 3.0.
Bank of England, London, June 2015. Archive illustration; this institution is not announcing the tax measure. DAVID ILIFF, CC BY-SA 3.0. — DAVID ILIFF / Wikimedia Commons — CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0/ — juin 2015, redimensionnement.

The government expects £1.5 billion in additional revenue. It presents the contribution as a way to fund part of its support for household energy bills.

The budget presented to Parliament includes a planned direct payment of £100 to around 20 million households in England. The announced payments and expected tax proceeds are budget measures and projections; actual disbursements remain to be tracked.

Sources 3