JPMorgan Chase chief Jamie Dimon has warned UK chancellor John Healey against creating a hostile tax environment for banks. During a call, Dimon cautioned that higher taxes often drive jobs elsewhere, citing a decline in finance roles in New York attributed to its tax burden.

Dimon—one of the most influential voices in global finance—emphasized that the only way to solve the UK’s economic challenges is by encouraging growth through "good policy." His warnings come as banks face potential windfall levies or higher taxes to fund household energy bills, following bumper profits in the sector.

JPMorgan's stance follows previous negotiations with former chancellor Rachel Reeves regarding plans for a new £3bn London base at Canary Wharf. While the exchange was described as "very cordial," Dimon has warned that higher bank taxes could have "adverse consequences" for investment and business decisions.