Two of Wall Street’s biggest names have announced ambitious UK investments just hours after the latest budget avoided increasing banking taxes. The news marks a significant step forward for Britain’s financial and technological sectors.
JP Morgan will build a 3 million sq ft headquarters tower in Canary Wharf, a development estimated at £3bn. The building will eventually house more than half of the bank’s 23,000 UK employees.
Goldman Sachs revealed plans to expand its Birmingham office, adding 500 new positions as part of its broader commitment to AI and digital infrastructure. The expansion will more than double the bank’s workforce in the region.
The banking industry had lobbied against a proposed tax hike, claiming that heavier levies would reduce lending and weaken the UK’s financial competitiveness. Reports suggested government officials sought supportive statements from major banks in return for maintaining current tax levels.
Government leaders praised the moves, saying such investments highlight the UK’s appeal as an international centre for finance, technology, and long-term growth.