Jamie Dimon told John Healey that increased bank taxation risks driving jobs and investment away from the UK.
JPMorgan Chase CEO Jamie Dimon cautioned UK Chancellor John Healey against imposing tougher bank taxes, arguing it could reduce the country’s appeal for jobs and investment. The warning followed discussions about a potential £3bn headquarters project in Canary Wharf, which Dimon previously linked to tax policies.
Dimon referenced a decline in finance jobs in New York, attributing it partly to the city’s tax burden. He opposed windfall taxes or broader wealth levies, emphasizing that economic growth requires “good policy.” The remarks were part of a broader, cordial conversation with Healey, arranged by the chancellor’s team.
The exchange comes as the UK government considers tax adjustments ahead of future budgets. Dimon was among the first banking leaders to engage with the new chancellor, with further calls planned with other executives next week.