Make stamp duty on house purchases progressive

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Make stamp duty on house purchases progressive

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At the moment a house bought for £250,000 falls into the 3% stamp duty bracket and would cost the purchaser £7,500. A purchase for £249,999 falls in the 1% bracket and would only cost £2499.99. This skews the market and leaves homes in the £250,000 to £275,000 price bracket very difficult to sell. Making stamp duty progressive would drop the additional cost to the buyer of a £275,000 house from £8,250 to £3,250 making it much more affordable. It would also be fairer. I would like the government to make stamp duty on house purchases progressive in the same way that income tax is.

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