ISDX supports Budget measures for UK small and medium sized companies
20 March 2013
Stamp duty on shares traded on ISDX Growth Market to be abolished
London, 20 March, 2013 – ICAP Securities & Derivatives Exchange (ISDX) welcomes the measure announced by the Chancellor in today’s Budget for small and medium sized companies.
Announced today, stamp tax on shares for companies listed on growth markets including the ISDX Growth Market and AIM will be abolished from April 2014.
This long-awaited change sends a positive signal to small and mid-cap companies, and those who invest in them, that the Government recognises the vital contribution made by this sector to the UK economy and its potential to fuel sustained growth.
This measure, combined with the launch last week of HM Treasury’s consultation on the proposed inclusion of Growth companies in ISAs, is a good foundation for improving access to finance and encouraging investment in small and medium sized companies in the UK.
Seth Johnson, Chief Executive Officer, ISDX said: "ISDX welcomes today’s announcement of abolishing stamp duty on ISDX Growth Market shares. The proposed change gives a clear indication that the Government recognises the importance of SMEs in driving economic growth across the UK and that it is willing to take positive steps to increase access to funding for such companies. As SMEs account for almost 60% of all private sector employment in the UK, the potential benefits of today’s announcement extend well beyond equity markets into the wider economy."
|Serra Balls ||Head of Public Relations ||+44 (0)20 7050 7124 |
About ISDX ICAP Securities & Derivatives Exchange is a Recognised Investment Exchange (RIE) under the Financial Services & Markets Act 2000. The ISDX Growth Market is an equity market for small and medium sized companies who want to raise money from investors to finance and grow their businesses. ICAP plc acquired the RIE through its purchase of PLUS Stock Exchange plc on 21 June 2012. For more information go to www.isdx.com.