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Daily Tax Quote

Labour Would Hike Taxes On UK Financial Sector

by Amanda Banks, Tax-News.com, London Monday, May 15, 2017

UK opposition party Labour has said it would increases taxes on financial transactions in the City to raise GBP5bn (USD6.46bn) a year.

The party said that it would extend the 0.5 percent stamp duty tax on shares to include other popular financial assets.

A general election will take place on June 8, with the ruling Conservative Party expected to win by a comfortable margin.

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