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Jamie Dimon: JP Morgan could scrap new £3bn HQ if Starmer is replaced by PM ‘hostile to banks’
NEWS
5/12/2026

Jamie Dimon: JP Morgan could scrap new £3bn HQ if Starmer is replaced by PM ‘hostile to banks’

Bank greenlit construction of the Canary Wharf tower last November after Rachel Reeves’ budget spared lenders tax hikes The boss of JP Morgan, Jamie Dimon, has warned he could scrap plans to build a new £3bn UK headquarters in London if Keir Starmer is replaced by a new Labour prime minister who is hostile to banks.JP Morgan revealed plans last November to build the tower in Canary Wharf, hours after lenders were spared tax hikes in Rachel Reeves’s autumn budget, after strong lobbying by the banking sector. Continue reading...

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Guardian Business
JP Morgan could scrap £3bn London HQ if Starmer is replaced by PM ‘hostile to banks’
NEWS
5/12/2026

JP Morgan could scrap £3bn London HQ if Starmer is replaced by PM ‘hostile to banks’

Jamie Dimon says US banking giant could rethink Canary Wharf tower if a future Labour leader targets lendersThe boss of JP Morgan, Jamie Dimon, has warned he could scrap plans to build a new £3bn UK headquarters in London if Keir Starmer is replaced by a new Labour prime minister who is hostile to banks.JP Morgan revealed plans last November to build the tower in Canary Wharf, hours after lenders were spared tax hikes in Rachel Reeves’s autumn budget following strong lobbying by the banking sector. Continue reading...

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Guardian Business
Reinstate windfall tax on banks after surge in profits, TUC urges
NEWS
5/5/2026

Reinstate windfall tax on banks after surge in profits, TUC urges

Unions group wants rate returned from 3% to 8% after big four UK lenders reveal £14bn total profit in first quarter An increased windfall tax should be imposed on the UK’s largest banks according to trade union leaders, after the big four lenders reported almost £14bn in first-quarter profits, partly fuelled by market turbulence caused by the Iran war.The Trades Union Congress (TUC) renewed its call for an increase in the current bank surcharge, which was reduced from 8% to 3% of profits above £100m by the Conservative government in 2023, as banks benefit from the high interest rate environment. Continue reading...

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Guardian Business