'Stop throwing shade' - the woman trying to stop firms leaving the UK
Summary
The head of the London Stock Exchange, Dame Julia Hoggett, says the UK must do more to encourage companies to list shares at home instead of abroad. She suggests the government should create better tax rules and incentives to make the UK stock market more attractive to businesses and investors.Key Facts
- Many large companies have left the London Stock Exchange (LSE) or listed shares in foreign markets like the US, Amsterdam, or Frankfurt.
- The LSE has about 930 companies with a total market value of £4.9 trillion, nearly 40% are international.
- In 2023, there were 23 new company share listings in London raising £2.1 billion, compared to 354 listings in the US raising £33 billion.
- UK investors are increasingly buying US stocks, sending investment money abroad.
- Dame Julia wants to remove the 0.5% tax on foreign buyers of UK shares, which does not apply when they buy foreign stocks.
- She also supports bringing back tax credits to encourage people to invest in UK shares.
- The Confederation of British Industry urges the government to ease regulations, improve marketing, and offer incentives to stop companies leaving the UK market.
- The UK government has not confirmed if stock market tax changes will be announced in the upcoming Budget.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
