Dame Julia Hoggett, head of the London Stock Exchange, emphasized the need for the UK government to enhance its attractiveness for domestic investments. She noted that many companies are opting to list in the US, which could weaken the UK economy by diminishing tax revenues and business valuations. Hoggett advocates for removing the 0.5% tax on UK share purchases and introducing tax credits for local investors.
The decline in new listings in London coincides with increased UK investment in US stocks. The Confederation of British Industry has urged for reforms to prevent further exodus of firms from the LSE.
Watch for potential government responses to Dame Julia Hoggett's call, particularly regarding tax reforms and incentives for UK investors. The outcome could influence the future of UK listings and the competitive landscape against US markets.