Lloyds chief urges UK policymakers to keep their hands of banks’ profits

CEO Charlie Nunn calls for measures such a windfall tax to be ruled out before next general election

The chief executive of Lloyds Banking Group has fired a warning shot at UK policymakers, saying measures such as a windfall tax on banks should be ruled out before what is expected to be a hard-fought election year.

With Labour largely silent on its plans for City regulation despite its current commanding lead in the polls, Charlie Nunn said City firms and investors alike were “looking for more certainty and clarity around the future”.