CSR: Government to unveil bank tax tomorrow

Chancellor George Osborne has said legislation to introduce a permanent tax levy on banks is to be published tomorrow, in his spending review.

Osborne told Parliament the banking industry has been “so poorly regulated” in recent years and he understands the public’s anger at the institutions.

The government will not “let banks off” their responsibilities, he said. He added the government must avoid driving banks abroad because of the large numbers of staff they employ.