Alison Rose stated that financial and political stability is required after the economic turbulence brought about by Liz Truss’s mini-budget.
State-controlled NatWest’s CEO has defended the amount of taxes paid by large banks.
The chief executive officer, Alison Rose, stated that banks were taxed more than “any other sector” including financial service industries in other countries.
Ms. Rose stated on Ian King Live that the financial industry already pays large taxes.
We pay more taxes than any other sector and more taxes than the financial services sector in other nations because of normal taxes and the bank levy, which has remained in existence.
Ms. Rose stated that banks that operate well are beneficial to the economy.
“We can help our clients, and we must ensure that our industry remains competitive and attractive to investors,” she said.
Ms. Rose stated that there has been a decline in company confidence following the mini-budget-induced market turbulence.
If you’re a business owner or a homeowner, uncertainty is quite challenging, and we’ve seen a tremendous reduction in business confidence due to uncertainty and volatility in the created swap curve,” she said.
“None of this is beneficial for businesses and families. What you want is economic stability, political stability, and certainty, so we are delighted that the market has become more stable and less volatile.”
