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The Guardian - UK

Business

Kalyeena Makortoff Banking correspondent

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

Jamie Dimon JP Morgan Rachel Reeves Sir Keir Starmer United Kingdom Canary Wharf

Jamie Dimon is photographed while talking and pointing his finger — Jamie Dimon said the bank had paid ‘probably $10bn in extra taxes’, which was not ‘right or fair’. Photograph: Richard Drew/AP

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 following strong lobbying by the banking sector.

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