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Chancellor John Healey reportedly plans to raise taxes on UK banks in October budget

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Coverage spectrum

Covered by 6 outlets, mostly center (67%).

10 articles in total. The spectrum counts each outlet once and leaves opinion out. How we measure bias

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Reports from the Guardian, Bloomberg, the BBC, the Financial Times, Sky News and CNBC say Chancellor John Healey plans to raise taxes on banks in his first budget, due on 28 October. The Guardian says the move would help offset damage to public finances from war in the Middle East. Shares in some London-listed banks fell on Friday after the reports, with Lloyds leading the losses. CNBC reports that a surcharge on bank profits could rise from 3% to 8%. IMF deputy director Helge Berger said the government might do better to cut pensions and welfare than to tax banks. Supporters of the plan say banks were bailed out by taxpayers and can afford to pay more.

Headline and summary written by Mantle’s AI from the coverage below, under published rules. How this works

What happened

Key points

Each point shows who reports it, from Far Left to Far Right.

  1. Chancellor John Healey is reported to plan higher taxes on banks in his budget.

    Across the spectrumReported byLeft2Center4See the outletsHide the outlets
    Left
    The Guardian, Bloomberg
    Center
    BBC News, Financial Times, Sky News, CNBC

  2. The budget is scheduled for 28 October.

    Reported byLeft1Center1See the outletsHide the outlets
    Left
    The Guardian
    Center
    CNBC

  3. Shares in some London-listed banks fell on Friday after the reports of a planned tax rise.

    One side only: the centerReported byCenter2See the outletsHide the outlets
    Center
    Sky News, CNBC

  4. Reports say the surcharge on bank profits could rise from 3% to 8%.

    One outletCNBC· Center

  5. IMF deputy director Helge Berger said cuts to pensions and welfare might be better than a tax on banks.

    One outletThe Guardian· Left

  6. Supporters of the plan say banks were bailed out by taxpayers in the financial crisis and can afford to pay more.

    One outletThe Guardian· Left

What is contested

Where accounts differ

Points the coverage does not agree on, and who says what.

  • Raising taxes on banks is the right way to help balance the budget.

    Supporters, as reported by the Guardian, say banks were bailed out by taxpayers and can afford to pay more. IMF deputy director Helge Berger urged cuts to pensions and welfare instead, given the UK’s high tax-to-GDP ratio. City lobbyists, the Guardian reports, warn the government that higher taxes would hurt the sector.

How each side tells it

Compare views

Every side reports that Chancellor John Healey is expected to raise taxes on banks in the 28 October budget. The left coverage stresses IMF advice to cut pensions and welfare instead, while the centre frames the move as a bank tax raid and tracks falling bank shares.

  • the left

    2 outlets

    Guardian headlines present the bank tax as a plan poised or revealed, then lead on IMF advice to cut pensions and welfare instead; Bloomberg uses neutral plans to raise wording.

    John Healey poised to raise taxes on banks in budget
    The GuardianLeftAll left-leaning headlines

  • the center

    4 outlets

    Centre headlines lead with the expected bank tax raid and signals from Healey, with BBC and FT using tax raid wording and Sky and CNBC leading on share price falls.

    Banks expect to be hit in Budget Sensational language“tax raid”Raid presents a planned tax rise as a forceful seizure rather than a policy decision.More neutral: tax riseDisagree with this highlight?
    BBC NewsCenterAll center headlines

  • the right

    No coverage yet

    No right-leaning outlet that Mantle follows has covered this story yet. That absence is part of the picture.

The words they chose

Language to notice

Words that carry a judgement beyond the facts. Tap a highlighted word anywhere on the page to see why.

  • Left0

    No loaded words in its own voice.

  • Center1

    tax raid

  • Right

    Has not covered this story.

In the outlets’ own words

  • Sensational language

    tax raidMore neutral: tax rise

    Raid presents a planned tax rise as a forceful seizure rather than a policy decision.

    Banks expect to be hit in Budget tax raid

    Used byBBC News (Center)Financial Times (Center)

See the full language guide

See for yourself

Side by side

What each side leads with and what it leaves out. Open a side to read its headlines.

From the left

2 outlets

Leads with

  • Healey plan revealed as exclusive
  • IMF advice to cut pensions and welfare
  • Banks bailed out in the financial crisis

Leaves out

  • Fall in bank share prices

Reported by other sides, not found in this side’s coverage.

See the 2 headlines from the leftHide the headlines

From the center

4 outlets

Leads with

  • Bank tax raid in the budget
  • Falling bank share prices
  • Budget date of 28 October

Leaves out

  • IMF advice to cut pensions and welfare instead

Reported by other sides, not found in this side’s coverage.

See the 4 headlines from the centerHide the headlines

From the right

0 outlets

No right-leaning outlet that Mantle follows has covered this story yet. That absence is part of the picture.

Articles you open from here build My Mix, a private picture of how your reading spreads across the spectrum, kept on this device. What is My Mix?

The left is Far Left and Left together. The right is Right and Far Right together. Every outlet keeps its own five-point rating.

Who reported it when

How the coverage built up

  • Left

    First to report

    The Guardian, Oct 15, 12:00 PM EDT

  • Center

    1 hr 14 min later

    Its first report, Oct 15, 1:14 PM EDT

  • Right

    No report yet

    From the outlets Mantle follows

See the order the outlets reported inHide the order
  1. The GuardianLeftOct 15, 12:00 PM EDT
  2. BBC NewsCenterOct 15, 1:14 PM EDT
  3. Financial TimesCenterOct 15, 1:53 PM EDT
  4. BloombergLeftOct 16, 2:50 AM EDT
  5. Sky NewsCenterOct 16, 3:08 AM EDT
  6. CNBCCenterOct 16, 7:19 AM EDT

Times are the ones the outlets published in their own feeds, in Eastern time. Opinion is left out.

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