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UK banks rise after budget brings smaller-than-feared tax hikes 

By Reuters News

** Shares of British banks rise after tax surcharges hiked less than expected during the UK budget

** Finance minister John Healey hikes tax surcharge on banks to 6% from 3%, partially reversing a cut down from 8% three years ago

** Natwest NWG.L up 4.1%, Lloyds LLOY.L up 3.9% and Barclays BARC.L up 3.6%

** Standard Chartered, which lifted its annual income forecast earlier in the day, also up 4.5%

** YTD, NWG was flat, LLOY up ~7% and BARC down ~9%

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