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JPMorgan Warns Higher UK Taxes Could Cut Finance Jobs

8/17/2026

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Summary

Story summary

JPMorgan CEO Jamie Dimon warned Chancellor John Healey that higher taxes could drive finance jobs out of the UK, citing a New York finance job drop tied to tax burden.
He said a $5 billion tax would hit shareholders and called a windfall levy unwelcome.
Trade union leader Paul Nowak urged raising the surcharge to 8% to raise £9 billion.
Positive Money estimated a windfall tax could bring £19 billion at the October budget.

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Story summary

JPMorgan CEO Jamie Dimon warned Chancellor John Healey that higher taxes could drive finance jobs out of the UK, citing a New York finance job drop tied to tax burden.
He said a $5 billion tax would hit shareholders and called a windfall levy unwelcome.
Trade union leader Paul Nowak urged raising the surcharge to 8% to raise £9 billion.
Positive Money estimated a windfall tax could bring £19 billion at the October budget.