Tuesday, September 2, 2008
I’m not sure if this is real or satire
"The Prime Minster has launched a major Government initiative aimed at making the housing market fairer for all. The £1 billion Homeowners Support Package includes a one-year holiday on stamp duty for all properties costing £175,000 or less, a move that will see around half of all house moves exempt from duty over the next twelve months. The Government will also extend its shared equity assistance to help more first-time buyers onto the property ladder." As we well know, The Tories tried a Stamp Duty holiday in 1991, which didn't work. They spent £2 billion in a single day on trying to prop up sterling, which didn't work. UK property values are falling at around £1 billion per day, who in their right mind thinks that this will 'work'?