JP Morgan , the investment giant could be about to rethink the move to a new 1.5bn European headquarters in London’s Docklands because of the furore created by the new City bonuses tax. The government is set to introduce a new punitive tax on bank bonuses over £25,000.
Jamie Dimon who is the CEO at JP Morgan is alleged to have made an “implicit threat” to Chancellor Alistair Darling is a recent discussion over the tax. The bank is said to be questioning the proposed move over fears that they will be punished by higher tax bills for bonuses paid to senior staff. The company have the option to pull out of the move should they consider the new tax to be too much of a burden.