Chancellor John Healey doubled the bank tax surcharge on October 28, 2026.
Banks will pay an extra 3% on profits above a set threshold.
The surcharge sits on top of the normal 25% corporation tax rate.
The 6% rate runs for 15 months, then it ends.
Healey said banks will help fund breathing space for families.
The surcharge was cut from 8% to 3% in 2023.
Barclays, NatWest and Lloyds rose by around 4%.
High interest rates fuelled large profits in recent years.
Lenders say a longer rise could hit mortgage pricing and loans.
The surcharge taxes banks, not personal savings accounts.
Watch shares, mortgage rates and the energy bill support.
Tap to read what the bank tax means in plain words.
Get the full breakdown, key numbers, and what happens next.
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