Reeves is preparing a stamp duty holiday on new IPOs

Chancellor Rachel Reeves is expected to announce a stamp duty holiday for new listings on the London Stock Exchange in Wednesday’s Budget as the government ramps up efforts to revive the index.

The move will wipe out the 0.5 per cent stamp duty tax investors are forced to pay upon buying shares that are newly listed in the UK, according to people familiar with the matter.

It will extend the current exemption from the day of IPO to up to three years after, in a bid to boost the number of listings, attract investors and stop businesses moving overseas.

Industry figures have been calling for the total abolition of stamp duty to lure both domestic investors and companies back from overseas markets, including New York, which offer great

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