The Quoted Companies Alliance, the independent membership organisation that champions the interests of small to mid-size quoted companies, welcomes the removal of stamp duty on the trading of growth market shares, such as those on AIM and the ICAP Securities and Derivatives Exchange (ISDX), which comes into effect today.
Together with the London Stock Exchange and other industry bodies, the Quoted Companies Alliance successfully campaigned for the removal of stamp duty on trades in AIM and ISDX shares, which was announced in the 2013 Budget.
Tim Ward, Chief Executive of the Quoted Companies Alliance, comments: “The abolition of stamp duty for growth market shares is an important step toward ensuring that the UK’s engines of growth can raise the finance that they need to grow. It will help to stimulate liquidity and bring further investment to small and mid-size quoted companies. The Government’s decisive action in this area should be recognised as an important ingredient in ensuring that small and mid-size quoted companies can continue to grow and support economic recovery.”