Clara Furse, chief executive of the London Stock Exchange (LSE), says the report into the impact of the government’s tax changes on Aim will be published by next Thursday (29 November).

Following the proposed 80% increase in capital gains tax (CGT) the LSE initiated a study to gauge the effect on the junior market. Up until now, the exchange has not taken a firm position on the matter, it’s awaiting the study results.

Asked by Shares at last week’s interim results (15 November) for a publication date, Furse responded with ‘a couple of weeks’.

Indications so far suggest the exchange will not object to the proposals. At the time chancellor Alistair Darling unveiled his proposals in October, while ‘mindful’ of the effect on Aim, the LSE said it was ‘broadly very supportive’. Indeed the changes will benefit its main market, where CGT rates will fall from 40% to 18%.

But Aim, where the private investor owns about half the market, will be badly hit. There are calls for Aim’s operator to make a stand. Advisers at accountants UHY Hacker Young and Grant Thornton hope the LSE will support growing demands for a policy rethink.

If the chancellor’s proposals go ahead then a higher rate tax payer on Aim will pay 18% on gains from 6 April as opposed to the 10% currently achievable after two years. These changes are particularly harmful for the active private investor.

To join our own campaign on the matter visit www.sharesmagazine.com/survey