Monday, November 18, 2013
Remove Stamp Duty and inflate house prices further, say Conservative MPs
"Stamp duty should be scrapped on all homes worth less than Ã‚Â£500,000, a group of Conservative MPs has recommended. The Free Enterprise Group is also calling for the threshold at which people start paying higher-rate income tax to increase to Ã‚Â£50,000. The MPs argue that middle-income households need more help to improve standards of living and that government can make more efficiencies. The stamp duty change would save taxpayers Ã‚Â£2.4bn, they say." Of course then the non-home buyers would suffer because they would have to make up the Ã‚Â£2.4bn deficit. And the home buyers would suffer because this would force up house prices by a huge multiple of the stamp duty they no longer have to pay. Great policy - everyone loses except landlords and second home owners (eg MPs).