Dimon Warns UK Against Higher Bank Taxes

JPMorgan Chase CEO Jamie Dimon warned UK Chancellor of the Exchequer John Healey against raising taxes on banks, citing concerns that higher levies could drive away jobs and capital.

Dimon's comments come as Prime Minister Andy Burnham's government prepares its budget for October. The Financial Times reported that Dimon made his warning during a call with Healey last week.

According to the report, Dimon pointed to the decline in finance jobs in New York City, which he attributed in part to the city's tax burden. 'If you have a uncompetitive tax system, capital leaves your country,' Dimon said on the Master Investor Podcast with Wilfred Frost in July.