The British media: The UK Treasury plans to implement stamp duty relief for newly listed companies on the London Stock Exchange

The UK Treasury plans to introduce stamp duty relief for new listings on the London Stock Exchange amid concerns about the loss of competitiveness in the UK's public capital markets, according to the Financial Times, citing people familiar with the matter. The measure will exempt investors from paying 0.5 per cent stamp duty when buying shares in newly listed companies. The relief could apply for two to three years after a company goes public, the sources said. The relevant tax exemption is currently in place at the IPO stage. Officials hope the move will increase market liquidity, incentivize companies to choose to list in London rather than competing cities such as New York, and also encourage more retail investors to invest in the UK stock market. The number of listings in London has lagged behind the Angolan, Zagreb and Muscat exchanges this year, according to Dealogic, and financiers have been lobbying Chancellor of the Exchequer Reeves to help revive London's stagnant listing market. In addition, several fintech companies also see stamp duty burdens as a major obstacle in the choice of listing locations. (Jin Ten)