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Call To Temporarily Freeze Stamp Duty


Antsy
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Get the feeling there aren't that many sales going through now? RICS and others are calling for measures last enacted in 1992 to prop up the bottom of the trough. I doubt the government could do it as they are skint as it is, without 6 billion in revenues going south.

http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770

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Wow, it's a bit early for that kind of measure, surely? Just by suggesting it they're signalling extreme desperation.

I'd hate to sit in the Chancellor's chair mulling this one over trying to work out where the money would come from to fund it, especially as the ink isn't dry on the latest cheque made payable to "N. Rock".

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Get the feeling there aren't that many sales going through now? RICS and others are calling for measures last enacted in 1992 to prop up the bottom of the trough. I doubt the government could do it as they are skint as it is, without 6 billion in revenues going south.

http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770

They have lost all sense of proportion. A ten year superboom has finally run out of steam and they are demanding the market is guven yet another filip. Linear thinking (property always goes up) deluded fools.

If the government dare give an additional tax break* to the property gambling mongrels then expect to see Alistair Darling on the end of my pitchfork. This market is dealing in it's own way with high costs.

So there is no money to provide our forces serving abroad with the guns and kit they need to fight a fair fight.

There is not enough money to maintain the public sectors salaries at current cost of living.

There is not enough money to cover private pensions washed away through corporate neglect

There is not enough money to maintain state retirement age at 65.

And yet, yet these boomtime mother******ers seriously think they have sufficient the politicians in their pockets so as to demand the taxpayer props up the cost of a basic human need to the detriment of the productve economy.

Ooh it gets my goat, really it does. Wheres Freddie Harrison???

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That's great, it starts with a financial earthquake,

birds and snakes, an aeroplane - HPC is not afraid.

Eye of a hurricane, listen to yourself churn -

world serves its own needs,

Don't misserve your own needs.

Feed it off an aux speak, grunt no, strength no.

Latter starts to clatter with fear fight, down height.

Wire in a fire, representing seven games in a government for hire and a combat site.

Left of west, was a coming in a hurry with the furies breathing down your neck.

Team by team reporters baffled, trumped, tethered, cropped.

Look at that low playing! Fine then.

Uh oh, overflow, population, common food, but it'll do.

Save yourself, serve yourself.

World serves its own needs, listen to your heart bleed.

Tell me with the rapture and the reverent in the right - right.

You vitriolic, patriotic, slam, fight, bright light, feeling pretty psyched.

It's the end of the world as RICS know it.

It's the end of the world as RICS know it.

It's the end of the world as RICS know it and I feel fine

Thanks to REM

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Peter Bolton King, chief executive of the National Association of Estate Agents, also called on the Chancellor to suspend the payments "as soon as possible to kick start" the faltering market.

"A shot in the arm from a stamp duty moratorium would help get the market moving again," he added.

"A moratorium would provide a kick start, but it has to be linked to more medium-term changes to the system."

Is this the same Peter Bolton King (what a [email protected] name that is) who only this week was exuberantly proclaiming the return of the first time buyer following the two recent interest rate cuts. From what he said this week you'd think it was all systems go again.

Is everyone who is in any way associated with the property market a LIAR?

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Get the feeling there aren't that many sales going through now? RICS and others are calling for measures last enacted in 1992 to prop up the bottom of the trough. I doubt the government could do it as they are skint as it is, without 6 billion in revenues going south.

http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770

Why are we not supporting this?? The temporary (key word!!) suspension of stamp duty would make a crash a 100% certainty! What do you think will happen if the market is given another boost (say 5%) over the next six months, and then the imposition of stamp duty is resumed? If it's in a bad way now, what do you think it'll be like then? :-)

The market is very different to how it was in '92. The key difference is underlying affordability.

It won't happen anyway, but it'd surely be great news for us if it did?

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Wouldn't a 50%+ drop in house prices ultimately have the same impact?

Yes, yes, yes. Falling house prices will mean people paying less stamp duty. Futhermore, a stagnant market with a severe drop in turnover will mean even less revenue for the government.

I'd advise Mr Darling to reform Stamp Duty like this:

"prices are probably going to fall 10% this year. So we'll reduce the 3% threshold by 10% too. Move it down to £225,000. That's how we'll be able to recoup the tax revenue we're likely to lose in this correction".

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Ironically, as the crash gathers pace, suspending stamp duty may become an ever more viable option. As the volume of sales continue to fall, so will the amount of money being raked in by HMG. Things may get to the point at which they have little to lose by reducing or suspending it anyway, and they may decide that what little they do lose is a price worth paying for the positive PR (you can bet that Brown himself would make a rare appearance before the cameras to front this one).

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Peter Bolton King, chief executive of the National Association of Estate Agents, also called on the Chancellor to suspend the payments "as soon as possible to kick start" the faltering market.

"A shot in the arm from a stamp duty moratorium would help get the market moving again," he added.

"A moratorium would provide a kick start, but it has to be linked to more medium-term changes to the system."

He has to be one of the most stupid people on the planet. 1% or 2% saving in stamp duty will suddeny kick start the market? Prices are still higher than a year ago. Maybe if they dropped even a little bit it might make more of a difference. It's about time these morons were held to account and made to pay for their greed.

Bring back hanging, drawing and quartering.

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Ironically, as the crash gathers pace, suspending stamp duty may become an ever more viable option. As the volume of sales continue to fall, so will the amount of money being raked in by HMG. Things may get to the point at which they have little to lose by reducing or suspending it anyway, and they may decide that what little they do lose is a price worth paying for the positive PR (you can bet that Brown himself would make a rare appearance before the cameras to front this one).

Astute points. And if the lowest SD band was abolished it could be spun as helping FTB's onto the property ladder.

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