From City AM:
Why no mention of perhaps the oldest financial transaction tax in the world – the UK’s stamp duty. It’s been running since 1694, is levied at 0.5 per cent, and raises £3bn a year. Why do opponents only ever mention the failed Swedish example?
Jon Slater.
I'm not sure if he's arguing for or against transaction taxes, but it is staggering how inconsistent the anti-TT people are.
As far as I can see, Stamp Duty is a bad tax, so let's rail against that before we start making snide comments about other countries' tax systems. And if I'm wrong, then surely we should be encouraging other countries to introduce a 0.5% charge on sales and purchases of shares (most countries which had such a tax have phased it out over the last ten or twenty years).
Roulette
8 hours ago
