Colt - 2005 New Year, New Highs.............

Mike.. Something will have to give..

Previously Gordon Brown had income from thousands of private investors...
- Stamp duty
- Tax on Capital Gains on Profits & Dividends

80% of those Investors that became margin traders got wiped out in the first year (Every Year);
- Many are now claiming unemployment & whatever benefits they can
- Now he is only getting tax revenue from perhaps 5 to 10% of these former investors.
- Now he is faced with refund claims due to losses
- Pension Deficit

What does the Government do?
a) Tax the voter some more?
b) Restore income stream from investment activities?

I believe brokers & their counterparties have a choice they must make yesterday. The "retail investor" must be protected and allowed to survive and thrive in our market system.