Dimon Warns UK Government Against Bank Tax Rise Amid Rising Profits

JPMorgan Chase CEO Jamie Dimon has met with Prime Minister Andy Burnham and Chancellor John Healey to express concerns about potential bank tax rises in the UK.

Dimon warned that a windfall tax on banks could put employment and investment at risk, as seen in his previous conversations with former Chancellor Rachel Reeves. The current corporation tax rate for lenders in the UK is 28%, higher than the standard 25%, along with an additional surcharge on their balance sheets.

Union leaders are advocating for increased taxes on banks to fund energy bill relief for households following the sector's high profits.