JP Morgan Boss Issues Bank Tax Warning to John Healey
Dimon said higher taxes could push finance jobs abroad as the government weighs options to fund spending pressures.
- Earlier this month, Jamie Dimon warned Chancellor John Healey against raising bank taxes during a phone call, citing risks that higher levies could drive jobs and capital away from London.
- Groups including the Trades Union Congress are urging the Government to increase the bank windfall levy from 3% to at least 8%, aiming to raise £9 billion for the Treasury over four years.
- Dimon previously argued on the Master Investor Podcast that punishing banks for the crisis 17 years later lacks principle, warning that uncompetitive tax systems cause capital to leave the country.
- Healey will deliver his first Budget on October 28, promising plans "built on fiscal discipline" as he prepares to consult with other bank executives in the coming days.
- Experts, including Niesr, warned the Chancellor that he must either raise taxes or cut spending, as public finance pressures leave no room for extra borrowing.
12 Articles
12 Articles
Jamie Dimon’s Blunt Warning to UK’s New Chancellor: Higher Bank Taxes Risk Driving Capital Away
Jamie Dimon didn’t mince words. In a recent call with UK Chancellor John Healey, the JPMorgan Chase chief executive laid out a clear message. Higher taxes on banks could push jobs and investment elsewhere. The conversation, which took place last week ahead of the government’s October budget, echoes Dimon’s earlier cautions. But this time the stakes feel higher. Prime Minister Andy Burnham’s administration has signaled openness to fresh levies on…
John Healey issued dire warning by major bank boss over tax raid ahead of Budget
John Healey issued dire warning by major bank boss ahead of Budget . Chancellor John Healey has received a stark warning from one of the world's most powerful banking figures against hiking taxes on the financial sector ahead of his maiden Budget
JP Morgan boss issues bank tax warning to John Healey
The boss of JP Morgan has issued a bank tax warning to John Healey as the Chancellor gears up to deliver his first Budget in October. Jamie Dimon, who has led Wall Street’s biggest bank since 2006, held a call with Healey on Thursday where the bank chief emphasised “getting public policy right” as crucial to solving economic problems, City AM understands. The conversation was at the request of Chancellor’s team, a person close to the conversatio…
Jamie Dimon, head of JPMorgan, warned the British government of tax increases for banks, which could cost jobs and drive capital out of the country.
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