The United Kingdom should start taxing crypto purchases in order to help the British invest in local actions, which could stimulate the country’s economy, explains the president of the investment bank Cavendish, Lisa Gordon.
“This should terrify us all that more than half of the under 45s have a crypto and no actions,” Gordon told Times in a report on March 23. “I would love to see the right of stamp cut on the actions and applied to the crypto.”
Currently, the United Kingdom brings together a 0.5% tax on the shares listed on the London Stock Exchange, the largest securities market in the country, which reports around 3 billion British pounds ($ 3.9 billion) per year of tax revenue.
Gordon added that a reduction could influence people to bring their savings into actions of local companies, which could then trigger other companies to make public in the United Kingdom and help the economy.
In comparison, she described the crypto “a non -productive asset” which “does not retaliate in the economy”.
“Actions provide growth capital to companies that employ people, innovate and pay corporate tax. It is a social contract. We should not be afraid to plead for it. ”
The country’s financial conduct of the country said in November that the property of cryptography had reached 12% of adults, which is equivalent to around 7 million people. The majority of Crypto owners, 36%, were under 55 years old.
Gordon said that many had “switched to savings rather than investment”, which, according to her, “will not finance a viable retirement”.
An FCA survey in 2022 revealed that 70% of adults had a savings account, while 38% held directly from shares or held them through an account granting nearly 20,000 British pounds ($ 26,000) of tax savings per year – approximately three out of four 18-24 years without investment.
A quarter of 18-25 year olds and a third of 25 to 44 year olds occupied any investment in 2022. Source: FCA
But in a follow -up survey, the regulator said that during 12 months to January 2024, the cost of living crisis had seen 44% of all adults stop or reduce savings or investment, while almost a quarter used or sold their investments to cover daily costs.
Gordon is a member of the working group working group, a group of industry leaders aimed at relaunching the local market, which Cavendish would benefit by advising companies on how to navigate any public offers.
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The consultation giant EY reported in January that the London stock market had had one of its “most silent years recorded”, with only 18 companies registered last year, down compared to 23 in 2023.
At the same time, EY said that 88 companies have struck up or transferred from the scholarship, many of which said they moved due to “the drop in liquidity and lower assessments compared to other markets” such as the United States.
However, Gordon said the United Kingdom was a “refuge” compared to markets such as the United States, which has lost billions of dollars in its stock markets because of the pricing and fears of President Donald Trump.
Cryptographic markets have also dropped alongside American actions, Bitcoin (BTC) exchanging 11% in the last 30 days and struggling to maintain support greater than $ 85,000 since early March.
In the past 24 hours, at least, Bitcoin is up 2%, merchant about $ 85,640.
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