UK is 'taxing London stock market out of existence': Rachel Reeves urged to axe stamp duty on shares The boss of one of Britain’s biggest investment platforms claimed the Government is ‘taxing the stock exchange out of existence’ as he called for stamp duty on share trading to be scrapped.
Richard Wilson, chief executive of Interactive Investor, said action was needed after figures showed the London market has suffered the largest exodus of companies since 2009 this year.
Tax plea: Figures show that this year, the London Stock Exchange has suffered the largest exodus of companies since 2009.
The comments come after it was revealed that 88 companies have either de-listed from the London Stock Exchange this year with only 18 taking their place – the biggest net exodus since 2009.
That is despite efforts by the Government, regulators and City grandees to try to revive the market by tweaking regulations and unlocking billions of pounds of pension funds for investment.
