U.K. Labour Backs Tax Breaks for Longer-Term Investors

The U.K. opposition Labour Party published a report calling for tax breaks for investors who hold stocks for at least one year, arguing that short-term investment damages the economy.

Labour last year asked George Cox, who sits on the board of NYSE Euronext, to suggest ways to encourage investors to take a longer view. The government published its own report on the subject in July by the economist John Kay.