Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, how much he forecasts will be collected from the bank levy in each year of the current Parliament.

From 1 January 2016 the government is also introducing a new surcharge on banking sector profits, phasing the reduction in the bank levy rate, and changing the scope of the bank levy.

Together these changes taxes will raise the following from the sector:

2015/16 : £3.7 billion
2016/17 : £4.0 billion
2017/18 : £4.3 billion

The Office for Budget Responsibility has published its forecast of the revenue raised by the bank levy in its Economic and Fiscal forecast. The changes are forecast to increase tax receipts from the banking sector by around £2 billion over the scorecard period.