UK - Scrapping stamp duty on share transactions would imp-rove the value of company pension schemes by up to £8000 per member, the London Stock Exchange claims.
The LSE said corporate tax was having a serious detrimental impact on financial markets and the wider economy.
LSE chairman Don Cruickshank said: “Now more than ever, urgent action is needed on stamp duty.
“It is a tax unique in its distorting effect, which acts as a serious drag on both our markets and our economy.”
And he added that total tax revenue from stamp duty was “unsustainable”.
Latest figures from the Treasury show that revenues from the tax will drop to £2.2bn in the next tax year – down from £4.5bn in 2001.
An NAPF spokeswoman said: “Stamp duty on shares clogs up UK markets and harms UK pension schemes.”
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