The Quoted Companies Alliance, the independent membership organisation that champions the interests of small to mid-size quoted companies, welcomes the Chancellor’s announcement in the Autumn Statement today that the Government will consult on the inclusion of shares traded on small and medium enterprise (SME) equity markets, such as AIM, into Individual Savings Accounts (ISAs).
The Quoted Companies Alliance, along with the London Stock Exchange, investors and other business organisations, has been carrying out a long-term campaign to allow AIM and ISDX shares in ISAs and has included this measure in its 2013 Budget proposals.
The overwhelming view of small and mid-size quoted companies and their advisers is that allowing AIM and ISDX shares into ISAs would provide the greatest positive impact on growth of the small and mid-size quoted company sector. In the QCA/BDO Small and Mid-Cap Sentiment Index in February 2012 and again in September 2012, including AIM and ISDX companies’ shares into ISAs was the most popular measure amongst respondents.
Tim Ward, Chief Executive of the Quoted Companies Alliance, commented: “The Government is listening to what growing companies want with its announcement to consult on including AIM and ISDX shares into ISAs. This measure could have a significant positive impact on liquidity and the ability of small and mid-size quoted companies to raise funds – ultimately helping these companies to grow and create jobs.
“The inclusion of AIM and ISDX shares into ISAs would show that the Government is supporting much needed investment in small and mid-size quoted companies, which are the engines of growth of the UK economy. We look forward to engaging with the Government on this and providing input into the upcoming consultation.”