Stamp duty suspension ?
Discussion
This happened in 1992 to stimulate the housing market. I think it's early days here, and no-one knows whether the economy will bounce back fairly quickly after the lockdown is ended or will remain moribund for some time. I would expect the Govt to wait a while, see what happens before making any changes to Stamp Duty.
Sadly that tosser, Gordon Brown, really shafted everyone by raising Stamp Duty to the point that it is a major source of income for the Govt. He probably thought he was being very clever, socialist scum, but the fact is it is simply a tax on moving house. Those people who are more economically active and move house to new jobs, etc will pay far more tax than those who live in the same house for most of their life.
It's one of the most unfair taxes imho. Thanks GB, you c**t!
Sadly that tosser, Gordon Brown, really shafted everyone by raising Stamp Duty to the point that it is a major source of income for the Govt. He probably thought he was being very clever, socialist scum, but the fact is it is simply a tax on moving house. Those people who are more economically active and move house to new jobs, etc will pay far more tax than those who live in the same house for most of their life.
It's one of the most unfair taxes imho. Thanks GB, you c**t!
Anything might happen
However, the government need the tax income. There is no evidence yet that the market will stall. No one knows where prices will go - there's another thread on prices falling & plenty think that won't happen & prices will rise.....
IMHO - For a while, the main government focus is keeping people in jobs - if that works, then housing will be fine. If it doesn't work, then the focus will be on stopping defaults & evictions. Eventually there might be a focus on stimulating the market.
The chances of a change to stamp duty in the very short term - soon enough to help inflight transactions is low IMHO - but your guess is every bit as good as mine.....
However, the government need the tax income. There is no evidence yet that the market will stall. No one knows where prices will go - there's another thread on prices falling & plenty think that won't happen & prices will rise.....
IMHO - For a while, the main government focus is keeping people in jobs - if that works, then housing will be fine. If it doesn't work, then the focus will be on stopping defaults & evictions. Eventually there might be a focus on stimulating the market.
The chances of a change to stamp duty in the very short term - soon enough to help inflight transactions is low IMHO - but your guess is every bit as good as mine.....
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