US banks announce UK expansion projects hours after budget
by Kalyeena Makortoff Banking correspondent from US news | The Guardian on (#71S0D)
JP Morgan and Goldman Sachs reveal plans for London and Birmingham as sector is spared tax rises
Two of Wall Street's biggest banks have announced substantial expansion plans in the UK, hours after they were spared increased taxes in Rachel Reeves's autumn budget.
JP Morgan on Thursday revealed plans to build a 3m sq ft tower in Canary Wharf, which will serve as its new UK headquarters and house more than half of its 23,000 UK staff. It is understood the London project will cost 3bn.
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