[Global Banking Industry Warning: The UK’s proposed bank windfall profits tax may drive business out of London] On September 23, global banking industry executives warned that if the UK increases the tax burden on the banking industry, they will transfer investments out of the UK. Executives told the Burnham government the move could further damage London's status as a financial centre. The banking industry's main lobby has launched a survey of banks from the US, EU, Asia, Africa and the Middle East with large operations in the UK. Senior bankers interviewed said that after Brexit, they will no longer choose the UK as the core hub of Europe as they did in the past. The warning reflects growing concerns among the banking community about being hit with a windfall profits tax in next month's budget. British Finance Minister Healy is seeking to increase fiscal revenue to make up for the fiscal gap caused by the Iran war pushing up borrowing costs. David Postin, chief executive of the banking industry lobby group the British Financial Services Association, said in an interview: "Our current tax burden level is already very high. If taxes are increased further, I think it will hit a tipping point and it will be extremely risky for the government."