# Fears the banking sector might be targeted for a cash grab have gathered pace.

*fintech · news · 2026-04-28 · City A.M.*

## Key points

- Barclays has reduced its UK GDP growth forecast for 2026 from 1.1% to 1%.
- Barclays stated UK banks face a 46% tax rate, higher than Europe or the US.
- Barclays paid nearly £2bn in UK taxes last year, among the highest of all companies.
- Barclays adjusted its impairment calculations due to a worsened economic outlook since February 2024.

**Companies:** Barclays
**Countries:** UK, Iran

[Read the full story on City A.M.](https://www.cityam.com/barclays-takes-shot-at-tax-speculation-as-uk-growth-forecast-cut/)

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