Not for the first time, Jamie Dimon has showered outgoing UK finance minister Rachel Reeves with praise.
In an interview with The Master Investor Podcast with Wilfred Frost released on 21 July, Dimon said that he thought Reeves “did a great job”
Specifically, Reeves is credited with a commitment to medium-term fiscal prudence. That has helped to keep a lid on UK government bond yields. Dimon declined to say what he might do if the new UK chancellor, John Healy increases the bank levy.
Asked if that might lead Dimon to cancel plans to build a new £3bn UK headquarters in London, Dimon said: “I don’t know what I’d do. I wouldn’t make a binary decision like that.” Dimon added: “The new chancellor [is] going to need good policies that actually cause growth. So, I’m praying that they get policy right [as] government after government get it wrong.” Dimon is not however alone in warning the new chancellor of the possible consequences of a U-turn in terms of fiscal caution, with Nigel Green, predictably forthright, as noted below.