JP Morgan boss Jamie Dimon warns UK chancellor not to hike taxes on banks

Billionaire CEO of world's biggest bank says any windfall tax on sector's bumper profits could harm jobs in City

Jamie Dimon, the boss of the US bank JP Morgan, has urged John Healey not to use his first budget as chancellor to increase taxes on banks' bumper profits.

Speculation has been growing that a windfall tax could be imposed on UK lenders to fund Andy Burnham's cost of living agenda, with campaigners estimating such a move could raise 19bn.