|
|
Article: War On Stamp Duty.
- Article from:
- Daily Mail (London)
- Article date:
- February 23, 2005
CopyrightCOPYRIGHT 2005 Daily Mail. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Liz Phillips
Feb. 23--A campaign to lift first-time home buyers out of the stamp duty trap will see a petition presented at 11 Downing Street next week.
Soaring house prices mean even the average first-time buyer is being caught by this tax. It is virtually impossible to find any property for less than [pounds sterling]60,000 -- the starting point for stamp duty -- yet at that price 1pc must be paid on the whole purchase price, meaning a minimum of [pounds sterling]600.
In 1993 when the [pounds sterling]60,000 threshold was set, the Government's take from stamp duty was [pounds sterling]465million. But it is since Labour came to power in ...