Thanks for this interesting read. I do wonder if the value of reducing or removing stamp duty that some have called for. Is this simply self serving or aligned to your take on many small nudges to push the ship (my words)?
Thanks for reading! I think it could be helpful but hard to justify the lost revenue and just cant see the politics stacking up. Stamp duty on share transactions currently raises about £4bn a year, which is just enough to make it matter for the public finances and fiscal targets. And it mainly falls on wealthier individuals and anonymous institutions -- ideal candidates for taxing!!! HM Treasury is also adamant that exempting AIM from stamp duty had zero impact so why would doing it for the whole market make a difference? Id support some changes around exepting small transactions (to encourage retail) and/or exempting anything below the FTSE 100 as one of many 'nudges'.
Thanks for this interesting read. I do wonder if the value of reducing or removing stamp duty that some have called for. Is this simply self serving or aligned to your take on many small nudges to push the ship (my words)?
Thanks for reading! I think it could be helpful but hard to justify the lost revenue and just cant see the politics stacking up. Stamp duty on share transactions currently raises about £4bn a year, which is just enough to make it matter for the public finances and fiscal targets. And it mainly falls on wealthier individuals and anonymous institutions -- ideal candidates for taxing!!! HM Treasury is also adamant that exempting AIM from stamp duty had zero impact so why would doing it for the whole market make a difference? Id support some changes around exepting small transactions (to encourage retail) and/or exempting anything below the FTSE 100 as one of many 'nudges'.