Bank expects ‘constructive, pro-growth agenda’ by chancellor next week and seeks to be part of it

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Lloyds Banking Group has backed the Labour government’s forthcoming budget and played down the impact of potential tax increases, which it said would probably be part of a “constructive, pro-growth agenda”.

The UK’s biggest mortgage lender’s chief financial officer, William Chalmers, said he would welcome a budget package that was consistent with government pledges to kickstart growth and investment in key areas like energy, infrastructure and housing.