Exclusive: Chancellor to target sector in his first budget to help offset damage caused by Iran war on public finances

John Healey is poised to tax Britain’s banks in his 28 October budget to help offset the damage inflicted on the public finances by war in the Middle East, the Guardian understands.

The chancellor is in Bangkok, where the International Monetary Fund has praised the UK’s progress towards balancing the books, urging him to “stay the course”.