Dimon Warns UK Against Higher Bank Taxes Amid Budget Preparations

JPMorgan Chase & Co.'s Jamie Dimon has cautioned UK Chancellor of the Exchequer John Healey against implementing higher taxes on banks. According to a report from the Financial Times, Dimon expressed his concerns during a call with Healey last week.

Dimon argued that increased taxes often drive away jobs, citing the decline in finance jobs in New York as an example. The city's high tax burden is partly responsible for this trend, he claimed.

The warning comes as Prime Minister Andy Burnham's government prepares to unveil its budget for October. Dimon's comments reflect the potential impact of higher taxes on the financial sector.