JP Morgan CEO Dimon will meet UK Chancellor Xili on Wednesday, people familiar with it
with the matter said, as the new government is considering an unexpected levy on
bank profits in the upcoming budget. Dimon held an introductory call with Xili
last month to discuss tax policy. Xili, in his first major speech since taking
office, emphasized a focus on growth and fiscal discipline. Rising inflation
expectations and uncertainty over government spending have pushed UK borrowing
costs sharply higher in recent weeks, increasing market expectations of higher
bank taxation.
