Stamp Duty reprieve will only be for 1% band

The government could this week press ahead with its plans to offer a stamp
duty holiday as part of its policy relaunch.

The plan means waiving the 1% rate on houses up to £250,000,
Times reported
, but will go no further than that.

The decision will ‘go down to the wire,’ the paper said, with no decision yet

The Treasury is also set to announce more details of a Homebuy scheme to help
first-time buyers.

Funding for the emergency housing package has already been signed off by
Alistair Darling, who has agreed to release hundreds of millions of pounds’
worth of funds from an £8.4 billion pot for affordable housing ahead of time.

Prime Minister Gordon Brown is expected to make the announcement, along with
other key policy changes, as part of his Autumn relaunch.

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