JPMorgan Chase CEO Jamie Dimon has warned that the bank could pull its £3bn investment in a new Canary Wharf skyscraper if Labour becomes 'hostile to banks again'. The comments come as Prime Minister Keir Starmer faces mounting pressure to resign following poor local election results and ministerial resignations.
Speaking to Bloomberg TV, Dimon expressed support for Starmer and Chancellor Rachel Reeves, but cautioned against a leftward shift. 'If they become hostile to banks again, yes,' he said when asked if he would review the project. The bank has already paid £7.4bn in extra taxes, which Dimon described as 'not right or fair'.
The planned skyscraper, agreed in November 2024, would provide 3 million sq ft of office space for 12,000 employees. Dimon's warning follows nearly 100 Labour MPs calling for Starmer's resignation, with four ministers quitting after the local elections.
US President Donald Trump also weighed in, advising Starmer to focus on energy policy and immigration. 'You're windmilling your country to death. Open up the North Sea,' Trump said, urging a tougher stance on immigration.
