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  1. A company is listed on the London Stock Exchange.
  2. A Trust was launched on the London Stock Exchange.

Secure Trust Bank CEO Calls for Stamp Duty Abolition to Boost Retail Investment

1 report, 1 independent Updated Sep 21
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What happened

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Secure Trust Bank announced a £31.3 million pre-tax profit for the first half of the year, marking a 9.4% increase year-on-year, excluding a £11.9 million gain from the sale of its vehicle finance portfolio. The bank, which trades on the London market at around £300 million in market capitalization, saw its shares rise roughly 19% over five years to 1,617.60p.

From financial-news.co.uk

Why it matters

Some supportBrind's analysis of the reports

During the announcement, the bank's chief executive stated that the 0.5% stamp duty on shares was the single biggest obstacle to retail investor participation in London’s equity market. The executive argued that boosting retail investment is key for UK wealth generation.

From financial-news.co.uk

Who's involved

  • Secure Trust BankBritish bank whose chief executive made the criticism regarding market taxes.
  • governmentThe entity whose fiscal policy is the subject of the criticism.

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