Barclays profits up 12% as UK banks brace for tax increase in budget
Barclays announced a 12% year‑on‑year increase in profit, posting £2.3 billion of pre‑tax earnings for the July‑September quarter. The bank also declared an extra £500 million distribution to shareholders, adding to earlier returns. The results come as UK lenders prepare for a potential tax rise in the forthcoming budget, which could affect the sector’s fiscal overall outlook.