Lloyds’ chief financial officer has criticised John Healey for linking higher bank taxes to support for energy bills, saying he hopes the Budget measure will be temporary.

The executive’s argument rests on the banking sector’s role in providing loans that support economic growth. His objection raises a question about the measure’s longer-term purpose: whether it is intended as a temporary contribution towards household support or a lasting increase in the sector’s tax burden.

The distinction matters to the case being advanced by Lloyds. Pointing to banks’ lending role explains the executive’s concern, but does not establish that the tax rise will reduce lending or weaken growth. No figures demonstrating such an effect are included in the available account.

The account identifies energy bill support as the purpose linked to the tax rise, but provides no detailed government response to the criticism. It also leaves the size and duration of the measure unspecified. The executive’s hope that it will be temporary is therefore a request, not confirmation of an expiry date.