Member

The draft legislations will implement this policy decision by removing the time limit on the exemption, thus preventing them expiring on 18 June this year, as is currently scheduled. The regulations will also remove the current power for the Treasury to extend the exemption by two years at a time if it concludes that this is necessary, as this power will no longer be required when the exemption has no time limit. Firms will not have to do anything differently as a result of this instrument as it maintains the status quo. This approach provides long-term certainty for market participants on the policy position, which will support the planning of their long-term investment strategies.