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Duty is still in eye of the new holder

The stamp-out stamp duty campaign has vowed to continue despite being conspicuously ignored in this year&#39s Budget.


Stamp duty on shares is a purchase tax collected at the rate of 0.5 per cent whenever an investor buys stocks. In many overseas markets, no equivalent duty exists.


It generates about £3bn a year for Treasury coffers.


Industry sources were hoping that, in exchange for a rise in mortgage stamp duty, they might expect a lowering or abolition of the tax charged on stockmarket trades.


Association of Private Client Investment Managers and Stockbrokers chief executive Angela Knight says: &#34Brown has missed his opportunity and I think in the next year he will regret it. But I am always optimistic. All you can do is keep on trying. It is absolutely shouting out for reform.&#34


Association of Investment Trust Companies PR manager Annabel Brodie Smith says: &#34It is disappointing that it did not come into play. We will continue to lobby on it.&#34

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