Half-baked plans to abolish stamp duty could prove as big a disaster as the Tories’ abolition of dual income mortgage tax relief for homebuyers 20 years ago – a move widely blamed for worsening the last housing crash – the property industry has warned.
Treasury officials yesterday refused to confirm reports that they were examining various ways to revive the housing market, including a temporary “holiday” on stamp duty.
But their comments merely added to the confusion, said a spokesman for the Royal Institution of Chartered Surveyors, who called for “immediate clarification” of the plans.
Estate agents have been deluged with buyers asking whether they should delay their purchase in advance of the move.
Financial Times, The Times