Matthew Beesley’s Post

View profile for Matthew Beesley

Chief Executive Officer at Jupiter Asset Management

Thank you to The Times and Richard Fletcher for publishing my thoughts today on the Global Investment Summit which Keir Starmer and Rt Hon Rachel Reeves Reeves will host next month. I believe the Summit represents a golden opportunity not only to attract investment but to reset the UK's relationship with investing and (sensible) risk taking. About two thirds of US adults have made equity investments whilst, in the U.K., less than a quarter say they have done so. By introducing measures which have been tabled by the financial industry - such as scrapping stamp duty on shares, launching a "British ISA" or bringing in tax breaks for pension assets - the Government can make a real statement of intent and encourage a healthier investment culture which should benefit households, the economy and U.K. plc in the long term. Having committed to being the party of growth and wealth creation, they must decide whether they want the flagship event to be a feel-good PR exercise or a catalyst for genuine progress. https://lnkd.in/eBusTAn6

David Wise

Highly experienced Real Estate investor and Managing Director at Active Value Capital

6mo

How are significant tax increases on CGT, pensions and elsewhere likely to promote risk taking, particularly when the UK is already highly taxed? Starmer and Reeves talk a good game about growth but most of their actions seem to be focused on jacking up taxes and rewarding their backers in the Unions. Come the October Budget there may be the odd fig leaf offered eg a British ISA but I really see little likelihood of an environment that promotes and encourages investment and risk taking.

One would hope for a stance that was benign at worst. I have been reviewing holdings of stocks by U.S. based individuals and non-profit organisations. The leeway and creativity offered to these groups is far greater than we have over here; resulting in significant chunks of enterprise owned either directly or through mutual funds by ordinary folk. Show Ms Reeves and Sir Keir the chart and you'll see the depth of interest in United States Corp. Then compare it the U.K. Plc - stamp duty, CGT and an attitude that investing is a lazy, non-contributory means of the rich making even more money. Change that and the summit may do some good. https://www.federalreserve.gov/releases/z1/dataviz/z1/balance_sheet/chart/#series:financial-assets;units:percent-of-dpi

Melwin Mehta

✅ Fund Manager 🎓Financial Education 👨👩👧👦 Family Office Architect 🚀 Always Cheering Financial Advisers 🐝 Bees 🎯 plays to 🆆🅸🅽

6mo

Totally agree Matthew Beesley 💯 The easiest way not to make errors ? Simple. Do nothing. A man who does nothing, makes no errors !! And this lack of decision making is taking us backwards. Dividends are preferred over Capex and outlays. It annoys the hell out of me. The Hargreaves Lansdown statistic is shocking too. As I wrote yesterday https://www.linkedin.com/in/melwinfundmanager/recent-activity/all/ more leaders need to speak up and it is amazing that Jupiter Asset Management has.

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consuelo brooke

External adviser investment Panel for the Royal College of Physicians of London

6mo

Good luck with that Matt I expect ideology will beat common sense despite like Non Doms changes it COSTING in revenue lost rather than GAINING then billions claimed! Let us see

Rob Weatherston

Chief Investment Officer at Dah Sing Insurance

6mo

Best of luck Matt

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