Stamp Duty Holiday: A Drop in the Ocean?

Chancellor Rachel Reeves stamp duty holiday for new businesses on the stock market, while well-intentioned, is projected to save investors only £50 million annually by 2031, a mere fraction of the £5.3 billion the tax is expected to raise that year. Critics argue its a token gesture, as the tax makes UK stocks less attractive compared to places like New York, where theres no such levy on investments. Pressure mounts for full reform as the levy is set to generate nearly £30 billion by 2031, leaving investors hoping for more substantial support to keep Britain competitive.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.