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Fears the banking sector might be targeted for a cash grab have gathered pace.
Barclays has reduced its UK GDP growth forecast for 2026 from 1.1% to 1%.
KEY POINTS
- 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
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