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JPMorgan CEO warns UK Chancellor: Do not increase bank taxation.

17/08/2026

JPMorgan Chase CEO Jamie Dimon spoke with UK Chancellor of the Exchequer Jeremy Hunt on Thursday, warning him not to raise taxes on the banking sector. Dimon stated that an uncompetitive tax regime could undermine London's status as a financial center, as the UK government is currently considering imposing new taxes on the banking sector ahead of the October budget. Dimon remarked that this could lead to a flow of capital and financial jobs out of the UK.

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According to the Financial Times, JPMorgan Chase CEO Jamie Dimon spoke with UK Chancellor of the Exchequer Jeremy Hunt last week via phone, warning him not to raise taxes on the banking industry. The UK government is currently considering a new tax on the banking sector ahead of the October budget, and Dimon indicated that a non-competitive tax regime could undermine London's position as a financial center, potentially leading to a loss of capital and financial jobs from the UK.

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