The UK should start taxing crypto purchases with a bid to replace the British to invest in local stocks, which can boost the country’s economy, says the head of investment in the bank Cavendish, Lisa Gordon.
“It should scare all of us that more than half of the under-45s owns the crypto and no equality,” Gordon told The Times on a March 23 Report. “I want to see the stamp duty cut on the equities and applied to the crypto.”
Currently, the UK has emerged a 0.5% tax on the shares listed in the London Stock Exchange, the largest country Securities Marketcarrying nearly 3 billion British pounds ($ 3.9 billion) a year in tax income.
Gordon added that a cut can change people to put their savings into the shares of local companies, which then can spark other companies to be public in the UK and help the economy.
In comparison, he called the crypto “an non-productive property” which was “not returned to the economy.”
“Equal ones give capital growth in companies that use people, modernize and pay corporate taxes. That’s a social contract. We should not be afraid to advance for it.”
The country’s financial authority said in November The owner of that crypto rose to 12% of adults, which equates to about 7 million people. Most crypto -owned, 36%, are under the age of 55 years old.
Gordon said many “move to saving instead of investment,” which he claims to be “will not fund a viable retirement.”
In 2022 FCA Survey found that 70% of adults have a saving account, while 38% will be held directly Sharing Or they will be held by an account that allows nearly 20,000 British pounds ($ 26,000) of tax-free savings a year-around three to four 18-24 years old have no investment.
A quarter of 18-25 years of age and a third of 25-44 years old to hold any investment in 2022. Source: FCA
But in a follow-up survey, the regulator reported that from 12 months to January 2024, the cost of a living crisis saw 44% of all adults stop or reduce saving or investment, while nearly a quarter uses savings or selling their investments to cover daily costs.
Gordon is a member of the Capital Markets Industry Taskforce, a group of industry executives who aim to revive the local market, which will benefit Cavendish as it advises companies on how to navigate possible public offerings.
Related: Will crypto companies bring new US SEC policies to the distance?
Consulting the giant eye reported In January the London Stock Market had one of the “quiet years recorded,” with 18 companies listed last year, down from 23 to 2023.
At the same time, EY said that 88 companies had removed or moved from the exchange, with many say they moved due to “denial of liquidity and lower values compared to other markets” such as the US.
However, Gordon claimed that the UK was a “safe shelter” compared to markets such as the US, who lost trillion dollars in its stock markets because of President Donald Trump Tariff Threats and fear of a backwardness.
Crypto markets also fall next to US equality, along with Bitcoin (Btc) decreases 11% over the past 30 days and difficulty to maintain support over $ 85,000 since early March.
In the past 24 hours, at least, Bitcoin has reached 2%, trading around $ 85,640.
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