(Oct 2):  In response to growing concerns over the declining appeal of the UK's public markets, the country's Treasury is preparing to introduce a temporary suspension of stamp duty for new listings on the London Stock Exchange, Financial Times reported on Thursday, citing two individuals familiar with the matter.

As part of the discussions for the upcoming November budget, this initiative would grant investors a reprieve from the 0.5% levy typically applied to share purchases of newly-listed companies, the report said.

This move is part of a broader effort to enhance the city's global competitiveness and attract more businesses to go public in London.

According to the sources, the proposed tax relief is expected to be temporary, lasting for an initial period of two- to three years following a company's market debut.

This new measure would build upon an existing exemption that already spares investors from the stamp duty when shares are initially issued during the initial-public-offering (IPO) process itself, added the publication.