Barclays Boosts Shareholder Payout Amid Anticipation of UK Bank Tax Hike

Barclays has announced a 12% increase in pre-tax profits for the July to September quarter, reaching £2.3 billion. This financial growth has enabled the lender to allocate an additional £500 million to shareholders.

The bank's positive financial performance comes as the UK financial sector braces for a potential increase in bank taxes, which is expected to be detailed in the upcoming budget. While Barclays reports strong earnings, the broader industry is preparing for new fiscal measures that could impact profitability.