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Article: GORDON HOUSING SNUB FOR LONDON ; Surprise stamp duty cut only benefits eight per cent of house buyers in capitalBig fightback by PM is dismissed as a 'political sticking plaster' by experts
- Article from:
- The Evening Standard (London, England)
- Article date:
- September 2, 2008
- Author:
CopyrightCopyright 2008 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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GORDON BROWN'S fightback hit trouble today after a cut in stamp
duty was attacked as too little — especially in London.
The year-long tax "holiday" is worth up to [pounds]1,750 but only
for buyers of homes worth between [pounds]125,000 and
[pounds]175,000.
Industry experts called it a "drop in the ocean" and a "political
sticking plaster" because it did nothing to address the real problem
of a mortgage famine.
London will gain the least, despite suffering some of the worst
problems, because just eight per cent of homes on sale in the
capital cost less than [pounds]175,000. Mr Brown went to Ealing to
publicise the measure but Tory researchers revealed that out of all
the homes for sale ...
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... ... revenues, bringing in pounds 5.1 billion. Stamp duty is currently charged ... homes worth more than pounds 500,000. Halifax said stamp duty revenues on properties ... they would incur a stamp duty bill of pounds 1,688. There are ...
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