Banks angry about Chancellor's levy announcement

Some of Britain's top bankers are said to be livid after the Chancellor made a surprise announcement today that he is going to make banks pay almost a billion pounds more this year in tax.

George Osborne is increasing the bank levy by an extra £800m to a total of £2.5bn. Labour has called the move a 'damp squib' and says the Chancellor has not gone far enough.

But the heads of Britain's biggest banks are said to be so angry that they have called a meeting to discuss what to do next.

Hugh Pym reports.

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