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The Financial Times reports that the chancellor will cut the tax surcharge on bank profits from 8% to 3% from April 2023. It says the move, which is “an effort to keep the City of London competitive against global rivals in the wake of Brexit”, will be welcomed by the financial sector. But Rishi Sunak could be criticised for doing it “at a time of tight public finances”, it adds.

Financial Times Front Page 22nd of April 2025

China has cautioned that it will respond forcefully against any government deepening ties with the US, insisting its own strategic interests must be safeguarded and hinting at countermeasures should isolationist policies prevail, while the PM stays firmly set on cooperation with Western partners.

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