Spread Betting firm worth more than London Stock Exchange

Nothing could illustrate the absurdity of tax policies more than the fact that the British spread betting firm IG Index has now a larger stock market capitalisation than the centuries-old London Stock Exchange. As long as governments discriminate against individual investors in equities and even give tax advantages to those speculating on a short-term basis there is little hope for a level-playing field for retail investors. (04/07/2010)