Economic Stimulus in the housing industry by using Stamp Duty as the mechanism for change.

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Economic Stimulus in the housing industry by using Stamp Duty as the mechanism for change.

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The housing market is stagnant and the primary reason is the lack of liquidity.
It is my assertion that this is an ideal time for a radical reform of stamp duty. A permanent abolition of the Stamp Duty payable by purchasers of properties would assist the spark the government is providing to home ownership through council house purchases and get the wider housing market moving.
This is very much a tax on the middle and working classes as purchasers of high value property tend to use strategic taxation planning to lessen or eradicate their tax liabilities.
By removing this tax, the government will need to find an alternative source of revenue. It is suggested a working party be created to look at whether the abolition of such will create sufficient income for the treasury in other areas through the knock on effect of abolition: increased employment, VAT income etc. and thereby be a self sufficient reform.

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