Jamie Dimon, the chief executive of the largest US bank JP Morgan, is expected to warn Chancellor John Healey against raising taxes on banks. The meeting between the Wall Street billionaire and the new Chancellor is scheduled for today, Wednesday 9 September 2026.
Mr Dimon is understood to caution that increased taxes could put investment and employment in the UK at risk. This comes amidst speculation that Mr Healey is considering a windfall tax on banks and oil companies in his inaugural budget, set for 28 October.
UK lenders currently pay a 28% corporation tax rate, which is higher than the standard 25%, along with a separate surcharge on their UK balance sheets. Mr Dimon has previously lobbied against additional bank taxes in Britain and has warned that further increases could have "adverse consequences", potentially impacting jobs.