JPMorgan is considering axing plans for new European headquarters in Canary Wharf, London, in the wake of the bank bonus tax Alistair Darling, UK chancellor, announced in his pre-Budget report this month.
A senior JPMorgan executive said: “It will be a factor in the decision”.
Bankers recognise that the 50 per cent bonus tax is a one-off measure this yearjustified by exceptional profits aided by international government bail-outs, but many see the tax as further evidence that the UK is becoming anti-bank.
London is not becmoing anti-bank.
London is saying it does not need more banks undertaking socially useless activity at cost to us all.
Not the same thing at all.