World Trade· August 17, 2026 at 12:26 p.m.
JP Morgan CEO Warns Against Windfall Tax on UK Banks
Key takeaways
- JP Morgan CEO warns against windfall tax on UK banks
- Windfall tax could raise £19bn for cost-of-living agenda
- CEO expresses concern about potential job losses
Jamie Dimon, CEO of JP Morgan, the world's largest bank, has cautioned UK Chancellor John Healey against imposing a windfall tax on banks' profits. Such a move is being considered to fund Andy Burnham's cost-of-living agenda, with estimates suggesting it could generate £19bn. Dimon expressed concerns that such a tax could potentially harm jobs in the City of London.
