US banking giants JP Morgan and Goldman Sachs have committed to expansive new projects across the United Kingdom, reflecting growing confidence in Britain’s economic direction. The announcements followed a budget that spared banks from tax rises.
JP Morgan confirmed its plan to develop a 3m sq ft tower in Canary Wharf, valued at around £3bn. The skyscraper will become the bank’s flagship headquarters in the UK and take approximately six years to complete.
Goldman Sachs announced a major hiring initiative in Birmingham, with 500 new roles supporting its investments in AI, digital operations, and advanced financial technology services.
Banks had warned that higher taxes could stifle growth and reduce lending. Reports this week indicated that the Treasury encouraged banks to provide supportive feedback on the budget after deciding against raising levies.
Government officials welcomed the investments, noting that they underscore the UK’s attractiveness to global companies seeking long-term economic and technological opportunities.
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