Scrapping the 'pernicious' tax on buying shares would help revive Britain's flailing stock market, according to leading figures in the City. Investors currently pay 0.5 per cent in stamp duty on the price of London-listed shares they buy – or £5 for every £1,000 invested in a UK company. With many other countries either imposing a much lower levy or no charge on share purchases, critics argue the London stock market is at a disadvantage. The Chancellor refused to cut stamp duty on share purchases last week – a move dubbed a 'missed opportunity' by the boss of trading platform Interactive Investor. The debate comes amid fears about the health of the stock market as foreign predators circle poorly valued London-listed firms on the hunt for bargains.

Source: Daily Mail March 11, 2024 11:35 UTC