The fresh commitments to their businesses in the UK come a day after the autumn Budget statement, in which banks escaped target tax rises which many in the industry had feared. Chancellor Rachel Reeves said the banks are “choosing Britain because they like what they heard in the Budget”. JP Morgan Chase, one of the world’s biggest banks, said the new building will be three million square feet and house 12,000 of its staff. The banking group said it formed part of efforts to “deepen our commitment to the UK economy”. Reports said earlier this week that Ms Reeves had instead asked the banks to express their commitment to the UK and the Budget.
