Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether he plans to change the definition of intermediary relief from stamp duty and stamp duty reserve tax.

There are no plans to make changes to intermediary relief from Stamp Duty and Stamp Duty Reserve Tax.

Intermediary relief ensures that the UK equity market functions efficiently by preserving liquidity. Changes to intermediary relief would risk causing serious disruption to the market with implications both for companies’ funding costs and for London’s position as a global listing venue. Even a small restriction could be damaging by causing a change in behaviour, resulting in less tax revenue overall.