JPMorgan May Scrap Billions London HQ Over UK Bank Tax Hikes
Updated
Updated · Bloomberg · May 12
JPMorgan May Scrap Billions London HQ Over UK Bank Tax Hikes
1 articles · Updated · Bloomberg · May 12
JPMorgan could cancel plans to invest billions in a new Canary Wharf headquarters if a future UK government raises taxes on banks, Jamie Dimon said.
Dimon tied the warning to political instability after Labour's heavy local-election losses, which triggered calls from dozens of MPs and some ministers for Prime Minister Keir Starmer to resign.
Asked whether that turmoil would force a review of the project, Dimon said higher bank taxes would be the red line for the US lender's London investment.
The warning raises the stakes for UK policymakers as they weigh leadership uncertainty and tax policy against London's appeal to major global banks.
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