Question put to George Osborne, Shadow Chancellor and MP for Tatton, could provide a solution to help stimulate the property market Print
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Monday, 05 October 2009 00:15

My Question to George Osborne ...

I wonder what you think about the possibility of reversing the way that Stamp Duty is paid by homebuyers. My proposal would be that you pay stamp duty on the home you are selling rather than the home you are buying, which would mean first time buyers would pay nothing and families wishing to move up the property ladder would pay a smaller amount than under the current system. This would mean that anyone downsizing would be paying stamp duty on the value of the home they were selling, which would take slightly out of their profit. Government revenue would not alter as stamp duty would still be paid every property sold, and making moving cost cheaper would help to keep the property market more fluid I would be interested to hear your opinion. Mrs C Hutton 6th October 2009.

Last Updated on Monday, 12 October 2009 01:00