Scrapping Stamp Duty Would Benefit Housing Market And Wider Economy

The UK economy would see benefits if the government updated property taxes including stamp duty which discourages mobility and dampens transaction levels, a report commissioned by the Family Building Society found. The new report, Lessons From The Stamp Duty Holiday, drew on surveys of lenders brokers and customers, a review of evidence of the effects of the tax holiday and data on transaction volumes as well as the Treasury’s tax take. Of the 40 brokers surveyed, 53 per cent believed stamp duty on housing transactions should be scrapped permanently. Read more on the Mortgage Solutions website.

https://www.mortgagesolutions.co.uk/news/2021/07/14/scrapping-stamp-duty-would-benefit-housing-market-and-wider-economy-family-bs/