UK Finance responds to HMT’s consultation on Implementing the Bank of England Levy

A Consultation on Draft Regulations, and the Bank of England’s Levy Framework Document.

Our key messages are:

  • We would like the Bank to expand the Levy to Non-Bank Financial Institutions to ensure they pay their fair share.
  • We would like greater clarification on what the Bank plans to do with their gilt portfolio and the plan to sell this down.
  • Greater clarity is needed on the timelines for the first-year implementation of the Levy.