|
|
Article: Stamp duty seriously damages Britain's wealth.
- Article from:
- Sunday Business (London, England)
- Article date:
- May 13, 2001
CopyrightCOPYRIGHT 2001 Sunday Business Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
E
VERY time you buy UK shares, you pay 0.5% in tax to the Exchequer. This tax is known by the quaint and innocuous term stamp duty and over the past three centuries it has proved a nice little earner for the Exchequer.
But stamp duty is back in the news because it has the potential to play havoc with the economy in a matter of months unless the Treasury takes urgent action. Last week, we at the Association of Private Client Investment Managers and Stockbrokers (Apcims) published a short paper, called Stimulating Savings and Investment for the Next Parliament and Beyond - a set of cost-effective measures the next government can take to encourage savers ...