JPMorgan Chase CEO Jamie Dimon met with UK Prime Minister Andy Burnham and Chancellor John Healey to discuss a potential windfall tax on bank profits. The government is considering new levies on the banking sector ahead of the budget announcement scheduled for October 28.
Dimon cautioned that higher taxes could negatively impact investment and employment in the United Kingdom. This meeting follows a previous phone conversation in August where Dimon expressed similar concerns.
UK lenders currently pay a 28% corporation tax rate. This base rate is supplemented by an additional surcharge specific to the banking industry.