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Jamie Dimon warns JP Morgan may scrap £3bn London HQ if Labour turns hostile

financeMay 13, 202616266

Jamie Dimon warned that JP Morgan could scrap its planned £3 billion Canary Wharf headquarters if Sir Keir Starmer is replaced by a prime minister "hostile to banks". The project is a major office development intended to anchor the bank's London operations and signal continued US investment in the City. Dimon tied the investment decision directly to government policy on banking regulation and taxation, saying political hostility to banks would prompt a rethink. If JP Morgan abandons the scheme, Canary Wharf and London's office market would lose a major tenant and billions in investment, affecting jobs, tax receipts and the capital's post-Brexit recovery.

Prem Sikka
@premnsikka.bsky.social

Who Governs? JP Morgan could scrap £3bn London HQ if Starmer replaced by PM ‘hostile to banks’. To appease bankers Tory/Labour govts have abolished post-2008 crash reforms. Banks make mega profits, don't want to pay windfall taxes, want compliant govts. Who will curb corporate power?

24645d ago
3 sources