The UK should begin taxing crypto purchases in a bid to sway Britons to invest in local stocks, which could boost the country’s economy, says the chair of investment bank Cavendish, Lisa Gordon.
“It should terrify all of us that over half of under-45s own crypto and no equities,” Gordon told The Times in a March 23 report. “I would love to see stamp duty cut on equities and applied to crypto.”
Currently, the UK lumps a 0.5% tax on shares listed on the London Stock Exchange, the country’s largest securities market, which brings in around 3 billion British pounds ($3.9 billion) a year in tax revenue.
Gordon added that a cut could sway people to put their savings into shares of local companies, which could then spark other firms to go public in the UK and help the economy.
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