Britain needs a stamp duty holiday
Gordon Brown was under intense pressure last night to declare a stamp duty holiday to kick-start the flagging economy.
Housing industry groups united to demand the temporary lifting of the tax for a year as fresh evidence showed prices falling at their fastest level for 15 years.[>
[>
The average property has lost 6.1 per cent of its value during the past year, figures from the Halifax yesterday showed.[>
[>
Home owners are desperate for financial relief after Bank of England chiefs, worried about inflation, yesterday voted to keep the basic rate of interest on hold at five per cent.[>
[>
Steve Turner, of the Home Builders Federation, said: “A stamp duty holiday would give real impetus to the property market and have implications for the wider economy.[>
A stamp duty holiday would give real impetus to the property market and have implications for the wider economy
[>
“The Government must act to address the stark reduction in the number of transactions. [>
Suspending stamp duty has been successful in the past and could work again. It is in everyone’s interests that this is done.”[>
[>