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John The Pessimist

Tory Mp Whinges About Stamp Duty....

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Well it is true. It was originally a tax designed only to be paid by rich people buying mansions at a rate of 1%. Now it is a tax where people buying modest homes have to pay 3% of a hugely inflated price - inflated by government policy.

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Worth noting that Mrs Main used her expense account to give her daughter a rent free pad.

Edit: here's the full sorry details here:

http://www.telegraph.co.uk/news/newstopics/mps-expenses/5364092/MPs-expenses-Anne-Main-and-a-rent-free-flat-for-her-daughter-25-miles-from-home.html

Just another rentier diverting your hard earned towards their nearest and dearest.

Edited by Joan of The Tower

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I hate to say this but she makes a lot of good points, especially making the point that kids with an extra 9% marginal graduate tax are screwed.

Right.

Commons 9 Dec 2010 University Tuition Fee Cap — Raise Upper Limit to £9,000 Per Year Majority: Anne Main In favour

Commons 9 Dec 2010 University Tuition Fee Cap — Set Basic Limit at £6,000 Per Year Majority: Anne Main In favour

Commons 11 Sep 2012 Opposition Day — Higher and Further Education — Tuition Fees: Anne Main In favour

Of course in Main's head the £10k stamp duty is way more important than the £30k+ at RPI + 3%.

http://www.publicwhip.org.uk/mp.php?mpid=40568&dmp=1052

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i wish there was btl stamp duty tax of 25% would help me a great deal and no stamp duty on home under 150k i would have my home then

But common sense like no stamp duty on ones house they buy to live in up to a certain point would not happen under the LIBLABCON.

And even less chance theyll tax BTL scumlords.

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LOL worrying about 3% in stamp duty when prices in London have risen by 20% in a year ....

Exactly, and 10% everywhere else.

I am glad to keep the £250k limit as it keeps the lid on prices. I see so many properties start off on the market at 260k,270k and 280k - over the months the price dropps then when when you look at the sold price it's the magic £249,999

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Sellers should pay the stamp duty.

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Older owners are so frequently positioned at the top as well, many with vast sums of equity on a sale, to upsizers.

Tory MPs call for property sellers to pay stamp duty
http://www.moneymarketing.co.uk/tory-mps-call-for-property-sellers-to-pay-stamp-duty/1074399.article

16 July 2013

A group of 40 Conservative MPs is calling for property sellers to stump up the cost of stamp duty instead of buyers in a bid to help first-time buyers and boost the housing market.

In the Forty Group paper, authored by MPs James Morris and David Mowat and published yesterday, it calls for the introduction of a principle that first-time buyers should pay no tax.

[..]The report says sellers are in a better cash flow position as they will have just received payment for the house.

It believes sellers would have to consider the stamp duty tax bands when selling a property which could nudge prices down but purely on homeowners’ terms.

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Right.

Commons 9 Dec 2010 University Tuition Fee Cap Raise Upper Limit to £9,000 Per Year Majority: Anne Main In favour

Commons 9 Dec 2010 University Tuition Fee Cap Set Basic Limit at £6,000 Per Year Majority: Anne Main In favour

Commons 11 Sep 2012 Opposition Day Higher and Further Education Tuition Fees: Anne Main In favour

Of course in Main's head the £10k stamp duty is way more important than the £30k+ at RPI + 3%.

http://www.publicwhip.org.uk/mp.php?mpid=40568&dmp=1052

St. Albans is a sure thing seat so she owes her job to her employer, the Conservative party. If the coalition LibDems were suitably whipped into line on the higher education reform then she had zero chance of anything other than voting it through. She's a product of our wonderful "democratic" system.

At least she is making the point that in light of those higher education reforms some things like house prices, stamp duty etc really don't stack up.

Have a look at her constituency on rightmove, 2 up 2 down shoe boxes in St. Albans are now moving into the 4% stamp duty bracket. This is an issue for her electorate.

Edited by bankstersparadise

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Stamp duty is a bad tax because it discourages people from moving (particularly downsizers as stamp duty reduces the profit and makes it impossible to ever trade up again). Less transactions makes a market more volatile - i.e. what we have now.

I would rather they got rid of it and increased council tax, which would be a lot fairer.

Edited by iamnumerate

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Sellers should pay the stamp duty.

The reason stamp duty works for shares and property (despite people saying a financial transaction tax will never work because it will just get avoided / transactions will move offshore)is that if you don't pay it you don't own it. Therfore it has to be the buyer who pays...

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