JPMorgan opens door to scrapping £3billion investment in Britain in major tax warning to Andy Burnham

GB News - Politics

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JPMorgan opens door to scrapping £3billion investment in Britain in major tax warning to Andy Burnham.

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JPMorgan's CEO refused to rule out scrapping the bank's proposed £3billion skyscraper in Canary Wharf last night in a major tax warning to Andy Burnham.

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Jamie Dimon said he hoped London would remain JPMorgan's European headquarters for a "long period of time" and said he was "praying that [Burnham's Government] gets policy right"."I would be very cautious if I was a Government thinking that penalising any company out of the ordinary is a good thing for that country," Mr Dimon said."And what they should have in my view is a competitive tax system that's consistent and conducive to capital formation that'll drive a country, drive the growth of a country."That is what they should do.

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If you have an uncompetitive tax system, capital leaves your country."He also warned that "Government after Government" in Britain "get [policy] wrong".Mr Dimon's comments come as the new Prime Minister weighs up whether he will uphold a large tax break for the bank's massive London development.In an...

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