Premier Miton calls for increased ISA allowance to boost UK investment
The firm argued the ‘GB ISA’ would provide an attractive listing environment for UK start-ups and private companies to remain in the UK, as there would be a guaranteed pool of investment.
The proposed ‘Great British ISA' would be added to the current £20,000 ISA allowance and only be investable in UK equities, in order to boost investment into the UK.
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The firm argued the ‘GB ISA' would provide an attractive listing environment for UK start-ups and private companies to remain in the UK, as there would be a guaranteed pool of investment.
Premier Miton added the GB ISA could «drastically drive down the cost of capital and deepen liquidity», which could support improve company valuations.
It also argued the product would «help defend the UK's best companies from being taken over by overseas buyers».
The firm suggested the product would follow a similar legal and regulatory structure to existing ISA products, and could be available on all fund platforms with «limited regulatory change required».
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Premier Miton CEO Mike O'Shea said: «Ensuring companies have access to the capital they need will encourage them to scale up and list here in the UK. This will mean that companies' headquarters, and all the associated high-paying roles, tax receipts and international prestige, remain here in the UK.
»The GB ISA would fully unlock the potential of the City, to not only scale up smaller private companies, but to provide those same companies with an attractive listing environment to stay and grow here in the UK.
«With cross-party political will, we can deepen the capital liquidity on offer to British businesses and make the UK listing
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