UK bank shares climb as Labour budget avoids new taxes on sector – Reuters

UK bank shares have seen a rise as the Labour budget has steered clear of introducing new taxes on the sector. This news has been welcomed by investors, leading to a positive trend in the market. The decision to avoid imposing additional taxes on banks has been a contributing factor to the growth in bank shares. This move by the Labour party has been perceived favorably by the financial industry, as it indicates a stable and supportive environment for banks to operate in. Overall, the avoidance of new taxes on the banking sector has had a direct impact on the rise in UK bank shares.