Market Chatter: UK Chancellor Healey Reportedly Warns Banks of Difficult Fiscal Picture Ahead of Budget

10:09 AM EDT, 10/06/2026 (MT Newswires) -- UK Chancellor of the Exchequer John Healey told the country's biggest banks that the government is facing a difficult fiscal picture ahead of the Budget later in October, London's Financial Times reported Tuesday, citing people familiar with the discussions. Healey reportedly met with executives from Barclays (BARC.L), HSBC Holdings (HSBA.L), Lloyds Banking Group (LLOY.L), NatWest Group (NWG.L), Nationwide Building Society (NBS.L) and Santander UK (SANB.L) on Tuesday morning. However, the government has not decided whether the banks will face tax increases, which the lenders said would create greater disparity between London and rival financial centers, the report added. The Treasury and Barclays had no comment, while Santander UK confirmed that Chief Executive Officer Mahesh Aditya attended the meeting but declined to comment. HSBC, Lloyds, NatWest and Nationwide did not immediately respond to requests for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)