21 Nov

New stamp duty call ahead of pre-Budget report

New stamp duty call ahead of pre-Budget report

A new call has been made for the chancellor of the exchequer, Alistair Darling, to provide more stamp duty relief in his pre-Budget statement.

Mr Darling announced that the lower threshold for the purchase tax was being raised for one year in early September, but the managing director of Smartnewhomes.com Dave Bexon said this does not go far enough and argued the level should be higher, to provide exemption to the "majority" of first-time buyers.

"This will instil some much needed confidence and send out a positive message to the market as a whole," he commented.

Mr Bexon also called on the government to do more to help out smaller developers and ensure unsold stock is bought up to help provide more affordable housing.

Yesterday London mayor Boris Johnson said his new housing plan for the capital would use public money to carry out such a measure.

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