# JPMorgan Chase & Co. CEO Jamie Dimon says a move to hike taxes on banks in the event Keir Starmer is replaced as the UK’s prime minster would see JPMorgan scrap plans to invest billions in a new London headquarters.

*business · news · 2026-05-12 · Bloomberg Tax News*

## Key points

- Jamie Dimon warned JPMorgan might cancel a London HQ if UK increases bank taxes.
- Labour MPs and some ministers are urging Starmer to resign after local election losses.
- JPMorgan's London investment is contingent on political and tax stability post-election.
- Dimon was explicit that tax hikes would directly affect JPMorgan's London expansion plans.

**Companies:** JPMorgan Chase & Co.
**Countries:** United Kingdom

[Read the full story on Bloomberg Tax News](https://news.bloombergtax.com/daily-tax-report/dimon-says-jpmorgan-would-scrap-new-uk-hq-over-higher-bank-taxes)

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