"My budget doubles down on growth as our number one priority by creating the conditions for businesses to invest and succeed. I am thrilled that JP Morgan Chase has chosen London for its landmark new building a multibillion-pound vote of confidence in the UK economy and this government's plans for growth, which are built on the rock of stability."
"London has been a trading and financial hub for more than a thousand years, and maintaining it as a vibrant place for finance and business is critical to the health of the UK economy. This building will represent our lasti"
JP Morgan will build a 3m sq ft tower in Canary Wharf to serve as its new UK headquarters, at an estimated cost of £3bn, and will house more than half of its 23,000 UK staff. Goldman Sachs will expand its Birmingham office and hire 500 staff, more than doubling its workforce in the city. Both announcements came hours after banks were spared an increased tax in the autumn budget amid intense lobbying. Reports said the Treasury requested supportive statements from the sector in exchange for avoiding a tax rise. JP Morgan described the headquarters investment as a long-term decision planned for months.
Read at www.theguardian.com
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