Business & Finance
JP Morgan chief Jamie Dimon to caution UK chancellor against bank tax rises
The Guardian reports that Jamie Dimon plans to warn Chancellor John Healey against targeting lenders in the upcoming budget.
The short version
- JP Morgan chief Jamie Dimon is scheduled to meet UK Chancellor John Healey to argue against raising taxes on the financial sector.[The Guardian]
- The warning comes amid speculation that the government could introduce a windfall tax on banks and energy firms in the 28 October budget.[The Guardian]
- Labor and campaign groups argue higher levies on lenders are justified to help households cope with living costs, whereas banks warn jobs could be threatened.[The Guardian]
Key facts
- JP Morgan CEO Jamie Dimon is scheduled to meet UK Chancellor John Healey to caution against bank tax increases in the upcoming budget.[The Guardian]
- UK lenders currently pay a 28% corporation tax rate alongside an additional balance-sheet surcharge.[The Guardian]
- The TUC and campaign group Positive Money have urged the UK government to introduce higher levies on banks to support households with rising costs.[The Guardian]
- The UK's four largest lenders generated 200 billion pounds in pre-tax profits over the preceding five years.[The Guardian]
What remains uncertain
- Whether Chancellor John Healey will actually introduce a windfall tax on banks or energy firms in the 28 October budget remains unconfirmed speculation.[The Guardian]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- JP Morgan boss Jamie Dimon to warn UK chancellor against bank tax hikeThe Guardian - World