Anything that improves that situation is a positive.
Think about it: shouldn't the market be funded by charging fees to the extremely wealthy participants? The alternative is that it's taxpayer funded, which is a tax subsidy to extremely wealthy participants.
There's plenty of things that cost money that legislation forces companies to do anyway, regardless of if there is a 'funding source' or not.
Although this particular one is from the FCA so presumably is taxpayer funded anyway.
To participate directly in a market you usually need to lock up at least several million dollars at what is effectively an escrow service, so they can shift it between accounts when transactions happen. All your shares stay locked up in a similar service.
The line graph of stock prices you can see on Google is a lie. Real market data is, like, a live feed of who's buying and selling and at what price and quantity. That doesn't seem very useful to someone who isn't trying to trade on that market, and if you can't trade on that market why bother getting the data?
There also isn't just one market. Any two large financial firms can just agree to directly trade with each other, would you mandate realtime data on that?
Also some resellers of market information are pretty affordable for personal use.
Why do we insist on actually useful interfaces into the economy and banking system being hidden behind such bureaucratic complexity? It's like the Open Banking gift that keeps on giving – if it were truly "Open", I'd have an API I could actually use to talk to all of my banks, rather than what feels like a closed shop (certainly for the average retail individual who just wants a feed from their bank).
https://www.dmo.gov.uk/investor-information/retail-investors...
I don’t think the Treasury really wants to deal with amateurs.
NS&I offer a range of retail products - https://www.nsandi.com/guaranteed-returns is a good option but does NOT come with the tax exemption.
https://taxjustice.uk/blog/worlds-top-tax-havens-are-british...
Maybe if the Miliband reforms pay off and certain critical things get built and gas prices return to normal, Labour will be able to take credit for lower electricity prices? Unless it's all spent on datacenters, which would be even worse political doom.
Personally I'd go with the "mansion tax" but that requires ignoring the well-connected screaming. They did manage that with VAT on private school fees.
I think there's a ton of space in the welfare system, look at the motability scandal or the increase in PIP claims.
So it looks like it would pay for itself?
Edit: We don't charge VAT on private healthcare - so charging it on private education looks a bit inconsistent to me.
Then look at the other end: are wealthy people and businesses really fleeing New York and California in droves like conservative media is portraying? Do we really see a meaningful wealth exodus occurring because of their corporate and personal tax laws? A cursory search says no. High housing costs, remote work, and just general pandemic shifts explain basically any changes there (and the number of people/businesses leaving isn’t particularly abnormal)
All of this is to say I don’t really know what the solution is for the UK. I just don’t think businesses and the super wealthy respond 1:1 to these policies in the way that politicians claim they do. They are so rich they are ultimately going to live where they want and do what they want. They aren’t going to relocate themselves due to tax policy. They will just “be rich” their way through the problem.
I wasn't referring to his becoming PM but what he does during the premiership, you know, the more important part
I hope I don’t sound too selfish but I am a USA citizen, and I would rather worry about my own country’s medium-term financial future.
You might be right that near-term disaster is unlikely, but comparing to a lottery win is ridiculous. Orders of magnitude off.
> Potentially, the raising interest rates because investors don’t trust the long term stability of the [Guess the country] economic system (more spending on pro-war activities, sluggish economic growth, and higher than expected government borrowing) will crash their financial system.
The rest of the world is getting tired of worrying about the US's economical situation, whether it the dotcom bubble, the sub-primes, or now the potential AI bubble.
So apologies for being blunt here, but yes it does sound selfish to me