Stamp duty changes seen as ‘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.

Further Reading:

report on Stamp Duty changes

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