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Article: Brown ready to put his foot down on stamp duty

Article from:
The Sunday Herald
Article date:
March 4, 2001
Author:
Copyright

INDIVIDUAL investors who buy shares in companies and investment trusts are set to benefit from Wednesday, when Chancellor Gordon Brown is expected in his Budget to stamp out stamp duty on individual share trades of up to #30,000.

The new limit will benefit small investors, though institutional investors will still need to pay the tax on their share transactions.

Stamp duty in the UK currently stands at 0.5% on share purchases in UK-registered companies, far higher than in any other major economy.

Campaigners, who have been calling for its abolition for some time, will this week send an electronic petition to Downing Street.

The campaign was initiated last year by the association of ...

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