12 Mar

Government has 'failed homeowners'

Government has 'failed homeowners'

In response to the chancellor's Budget announcement, the National Association of Estate Agents (NAEA) claimed he has "failed" homeowners.

Alastair Darling revealed that people in shared properties will be exempt from stamp duty charges until they own 80 per cent of the home, but did not impose changes to rules for those in other situations.

This led chief executive at the NAEA Peter Bolton King to claim the duty is "taxation gone mad" and that first-time buyers are being stretched enough.

He commented: "This was an opportunity for the chancellor to give the housing market the boost it really needs to keep the market moving but he has failed the British homeowner again."

Mr Bolton King also cited research from Halifax that said revenue generated from stamp duty in the last five years stood at £6.4 billion in 2006-07.

Stamp duty currently has to be paid on homes with a value of £125,000 or more.ADNFCR-1222-ID-18506494-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.