Jamie Dimon says he "always thought it was wrong" about UK bank tax surcharge

JP Morgan chief Jamie Dimon has privately cautioned Chancellor John Healey against increasing taxes on lenders ahead of the UK’s autumn Budget, according to reports. On a phone call, Dimon argued that higher levies could push financial jobs abroad, citing New York’s experience with tax-related losses; he also opposed a windfall tax on bank profits or broader wealth taxes. His warning follows earlier podcast remarks that he had long regarded the British bank tax surcharge as unjustifiable—saying JP Morgan bore no responsibility for the financial crisis and has remained in Britain for over 16 years. Trade unions are urging the government to raise the bank windfall levy from 3% to at least 8%, which they say would yield £9 billion. Healey, preparing his first Budget on October 28, must fund devolution, defence, and cost-of-living measures amid tight public finances.