Let's Stamp Out the Tax That Costs More Than It's Worth

Evening Standard - London › May 08, 2007

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Summary

CITY COMMENT

GORDON BROWN has taken a huge amount of flak down the years for his Pounds 5 billion-ayear raid on pension funds, to the extent that some critics rather excessively blame him for the entire collapse of the defined benefit pension system.

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Extract

Let's Stamp Out the Tax That Costs More Than It's Worth

But a tax that is arguably even more pernicious in its long-term effects excites barely a murmur. Stamp duty, a 0.5% charge on all UK share purchases, raises almost Pounds 3 billion a year but causes little political rancour. Perhaps it should. A report by research group Oxera...

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