Stamp Duty (Hansard, 1 March 2004)

HC Deb 01 March 2004 vol 418 c715W 715W

§ Mr. Redwood
To ask the Chancellor of the Exchequer what the cost to public funds would be of abolishing stamp duty on share transactions. [157574]

§ Ruth Kelly
The 2003 pre-Budget forecast of revenue from duty on transactions in shares, and hence the direct yield cost of abolition, is £3.3 billion for 2004—05. This estimate makes no allowance for the effect on other taxes arising from the wider impact abolition may have on the economy.