Understand
London Stock Exchange boss Dame Julia Hoggett urges the UK to stop negative sentiment and back domestic firms
Overview
London Stock Exchange boss Dame Julia Hoggett has warned that negative sentiment and a lack of structural incentives are driving British companies to list overseas in places like the US. In an interview with the BBC, she called on the government to remove the 0.5% share purchase tax and introduce tax incentives to encourage Britons to invest in domestic stocks, helping to halt the departure of major firms from the UK market.
Key points
- London Stock Exchange CEO Dame Julia Hoggett stated that the UK must do more to back its own companies and make the local stock market more attractive.
- A growing number of firms have left the London market, delisted, or chosen to list in the US or Europe in recent years.
- Hoggett criticized the UK's 'national habit' of negative sentiment, urging the nation to stop 'throwing shade' at itself.
- She called for the government to scrap the 0.5% tax on purchasing UK shares and introduce tax credits for domestic investments.
- The Confederation of British Industry has similarly urged urgent action, citing the need for lighter regulation and investor incentives to prevent further departures.