Dimon warns UK against raising taxes on banks
JPMorgan chief Jamie Dimon warned the UK against higher bank taxes as the financial-services industry lobbies ahead of the October Budget, the Financial Times and Fortune reported. Dimon argued that heavier taxation can push jobs elsewhere, pointing to a decline in New York finance employment that he attributed partly to the city's tax burden.
Why it matters
The intervention raises the stakes for a UK Budget balancing revenue needs with London's competitiveness as a financial centre.
Sources
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Part of the August 17, 2026 brief.