Stamp duty changes seen as ‘sticking plaster’
03 Sep 2008, Judith Tydd, AccountancyAge
http://www.accountancyage.com/aa/news/1764014/stamp-duty-changes-seen-sticking-plaster
The Federation of Master Builders and the National Federation of Builders have described the confirmation of a stamp duty holiday as 'sticking plaster'.
Following yesterday's announcement by Treasury of the 12 month stamp duty suspension and subsequent loss in taxes, many have criticised the plans for not going far enough.
Richard Lambert, director-general of the CBI, warned that the changes to stamp duty would come at a cost and 'may turn out to be largely symbolic'.
In addition to the stamp duty holiday, the government also announced a £1bn mortgage package aimed at restoring the flailing property market.
The Council of Mortgage Lenders said the package could help 'some vulnerable customers' and welcomed the extension of income support for mortgage interest.
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Visitor comments
Stamp Duty - A Roman Tale
' Nero fiddled while Rome burned'. This best describes the action of this Government.
It must welcome news to all those first time buyers,who will in all probabilty not be able to raise a mortgage offer in the first place.
In regard to the Government assisting those in mortgage arrears,I understand that there will be approx 39 week delay in applying assitance - great news ,when your house is about to be repossesed.
It's time for Gordon and Alisdair to step down. Their combinined dithering and infighting,is beyond contempt
Posted by: Watcher , 03 Sep 2008 | 00:00