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UK Finance has released its Autumn Budget submission ahead of 30th October, focusing on how the financial services sector can support the Government in building a better society.
The submission included recommendations aimed at delivering economic growth, specifically addressing taxation and support for first-time buyers.
UK Finance called for the Government to maintain the currently increased threshold for Stamp Duty for first-time buyers, and to annually increase all Stamp Duty bands.
It also suggested incentivising share ownership by scrapping the 0.5% Stamp Duty on share purchases for UK equities.
David Postings, chief executive of UK Finance, said: “The new Government has been clear that it is focused on delivering sustained economic growth, and financial services are vital in achieving that goal.
“The upcoming Budget is an important opportunity for the Government to set out a clear plan for the UK.
“In our submission, we have called on the Government to not only introduce measures to bolster growth, but also a range of ideas to help support households and businesses up and down the country.”
“As a vital part of the UK economy, financial services will play an active role in supporting growth and building a better society for all.”