Tories push for stamp duty on shares limit

Shadow chancellor George
will today give the clearest indication yet that the Tories
will abolish or slash stamp duty on shares should they come into power.

Osborne is to speak at an ABI
today, where he is expected to say that cutting or
scrapping the £3bn levy on shares will be a priority for the Tories should they
win the next election.

According to the FT
, Osborne will say that the tax is ‘a drag on savings and
investments’ and cite a study by Oxera which found that the tax was draining
occupational pension funds by about £12,000 and depressing share prices by 7%.

Further reading:

Stamp duty opens up PLCs to private equity takeovers

Read the Oxera report

Brown’s budget is off

Related reading

HMRC banknotes