Jeremy Hunt may launch 'British Isa' investing in UK company shares

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The chancellor, Jeremy Hunt, has hinted at plans to launch a tax-free 'British Isa' investing in UK company shares at the spring budget, as part of efforts to revive the country's stock market.

Article originally published by The Guardian. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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09 Feb 2024

A British stock Isa would allow investors to buy a certain amount of UK company shares, without paying tax. Currently, the government charges a 0.5% tax, known as the share purchase stamp duty, for any shares bought in the UK.

It comes as Hunt tries to find cost-free announcements that could help win over voters and businesses as the Tories lag well behind Labour in the polls before a much-anticipated general election.

The incentive, which some expected Hunt to announce as part of the autumn statement last November, could also complement government plans to sell shares in NatWest – which is still 38.6% government owned since its 2008 taxpayer bailout – to retail investors later this year.

Hunt made the comments in front of hundreds of City bosses, who were gathered in the Raffles hotel in Westminster for an annual dinner hosted by the financial