One could argue that SDRT is a minor 0.5% and that london remains competitive due to deep capital pools, rule of law and time zone advantages but that defence ignores…
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When you buy UK shares you pay 0.5% stamp duty upfront yet the same transaction in US or European shares attracts zero such tax, how can the UK claim to be a competitive global financial centre?
That half percent drag means a £100,000 UK portfolio pays £500 more per turnover than an identical US listed portfolio. Doesn’t that directly discourage people from investing in their own home economy?
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