Thursday, May 23, 2024

I can work with pro-business Labour, says JP Morgan chief

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The boss of the world’s biggest bank has described Sir Keir Starmer as “pro-business” and praised the Labour leader’s commitment to growing the economy and cutting red tape. 

Jamie Dimon, the chief executive and chairman of JP Morgan, vowed to “help” Sir Keir if he wins the next election, as he revealed he met the leader of the Opposition for the first time this week.

Mr Dimon said he believed both he and Rishi Sunak were focused on policies designed to promote economic growth.

He said: “I have enormous respect for [Rishi] and I met Keir for the first time and…one of the things I like [is] they’re pro-business.”

The meeting on Tuesday took place on the same day as Sir Keir and his shadow cabinet colleagues held crunch talks with unions over Labour’s flagship workers’ rights deal, which will crackdown on zero-hour contracts and “fire and rehire” agreements. Sir Keir has been seeking to reformulate the plan after business groups warned it was too tough and risked curtailing growth. 

Mr Dimon, who presides over the world’s biggest bank by market value, said: “Everyone I’ve heard in both the Conservative and Labour [parties] are talking about growing the economy, technology, research and development, simplifying regulations, making it easier for people to start businesses and grow businesses, making sure that schools educate.” 

Asked if he believed the economy was in safe hands whoever wins the general election, Mr Dimon told Sky News: “I certainly hope so. And we will help whoever wins.” 

In the same interview the US bank chief criticised Britain’s planning laws, saying it took “too long” to build things.

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