Investing.com -- JPMorgan Chase could reconsider its planned multibillion-dollar office tower in London if U.K. Prime Minister Keir Starmer is removed from office, CEO Jamie Dimon said Wednesday.

Speaking to Bloomberg in Paris, Dimon said a leadership change would not alter JPMorgan's fundamental strategy but could prompt the bank to reassess its future in the U.K. capital. When asked Tuesday if Britain's political instability affected his view on the project, Dimon said it would if a new government was "hostile to the banks."

Dimon criticized the tax burden JPMorgan faces in the U.K., stating the bank had already paid $10 billion in "additional taxes" related to the construction project.

JPMorgan announced late last year plans to build a three-million square foot tower in London's Canary Wharf financial district to house up to 12,000 employees and serve as its U.K. headquarters. Construction is expected to take six years, during which the bank will also renovate its existing building on Bank Street. At the time, JPMorgan said the plans were "subject to a continuing positive business environment in the U.K. and the receipt of the necessary approvals and agreements at a national and local level."

JPMorgan currently employs more than 20,000 people in the U.K., with 13,000 based in London. The bank said in November its construction and office upgrade projects would contribute an estimated £9.9 billion ($13.4 billion) to the U.K. economy and create more than 7,800 jobs over six years.

Starmer's leadership faces uncertainty after his party's poor performance in U.K. local elections last week prompted widespread calls for his resignation. As of Tuesday morning, 90 members of parliament from the governing Labour Party called on the prime minister to step down, while more than 100 signed a statement backing him.

Last week's elections saw gains for the right-wing Reform UK and the left-wing Green Party.

Dimon expressed support for Starmer and Finance Minister Rachel Reeves in Tuesday's interview. "I think Keir Starmer's a very smart guy," Dimon told Bloomberg. "Politics is very tough. They're in a bind because of debts and deficits, they inherited a lot of that, I think the world of Rachel Reeves, and they've got to be tough."

Dimon also praised Starmer's approach to repairing the U.K.'s strained post-Brexit relations with the European Union. "I think they need to work closer with Europe," he said, referencing cooperation between Starmer and French President Emmanuel Macron on military alliances, intelligence sharing and economic relationships.