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UK Urged to Tax Crypto to Redirect Capital to Local Stocks
Lisa Gordon, the head of Cavendish Investment Bank, has sparked a heated debate by proposing the introduction of a tax on cryptocurrency purchases in the United Kingdom. According to her suggestion, this revenue should be redirected towards lowering the stamp duty on equity shares and incentivizing investors to put their money into local businesses.
Gordon’s concern stems from the alarming rate at which younger Britons are abandoning traditional investments in favor of cryptocurrencies. She believes that taxing crypto transactions will not only yield substantial financial benefits for the government but also encourage people to invest in companies that create value, generate jobs, and contribute to the economy through corporate taxes.
The Cavendish Investment Bank head emphasized that her proposal is not solely driven by a desire for increased revenue; it’s fundamentally social. Gordon believes that this shift would benefit society as a whole, fostering economic growth, job creation, and ultimately leading to enhanced public services.
According to Gordon, the government should focus on long-term economic strength rather than succumbing to short-term digital hype. She is not opposed to technological advancements but firmly advocates for sustainable growth, where businesses expand, people get employed, and taxes fund essential public services.
In essence, Gordon’s proposal seeks to redirect the capital currently being invested in cryptocurrencies towards tangible assets with real-world implications.
Source: https://www.crypto-news-flash.com/uk-urged-to-tax-crypto-redirect-capital/?utm_source=rss&utm_medium=rss&utm_campaign=uk-urged-to-tax-crypto-redirect-capital
