Reported about 5 hours ago
The Lord Mayor of London, Alastair King, has criticized Rachel Reeves over a stamp duty on UK share investments, arguing it hampers local businesses. He suggested scrapping or reducing the tax to enhance growth, noting that British investors face higher costs than those investing in New York-listed assets. King emphasized the need for reform in the regulatory environment and cautioned against complacency in the financial sector, while also pointing out the peculiarities of tax breaks on cash and foreign shares. He called for a proactive approach to attract investment back to the City.
Source: YAHOO