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Next week’s budget should focus on rebuilding confidence in the UK as a place that welcomes business, the British Bankers’ Association (BBA) has said.
Chief executive Angela Knight called on the government to do more to attract business and voiced the BBA’s concerns in an official submission to HM Treasury.
She said: "The industry is seriously concerned that the government is trying to raise new taxes without adequate consultation and without proper consideration of the cumulative effects."
These taxes, she claimed were causing international businesses to think twice before making the UK their international destination of choice.
"Closer collaboration with the industry is essential to avoid giving our partners and competitors abroad the impression that the UK is not as friendly to business as it was just a few years ago," she went on.
London’s city offices are often rented by foreign companies who establish themselves in the capital and bring investment and job opportunities to the UK.