Are these people MAD?
Reduce stamp duty – keep developers in business.
Build expensive bungalows – keep developers in business.
BUILD MORE SOCIAL HOUSING – Benefit the “just about managing”
Any chance of this? Beggar all!
“Stamp Duty must be overhauled in next week’s Budget to help young people get on property ladder, the chairman of the influential Commons’ Treasury Select Committee has said.
Nicky Morgan, a former Tory Cabinet minister, also called for new measures to encourage developers to build more bungalows for pensioners to move into and free up larger family homes.
New research from the Taxpayers’ Alliance, seen by The Telegraph, also warns that – without reform – the tax will be paid by nine of 10 home owners by the time of the next general election in May 2022.
Philip Hammond, the Chancellor, is under pressure to cut stamp duty to encourage more pensioners in large homes to move out and free them up for younger families.
The news came amid reports that Mr Hammond was looking at easing stamp duty bills for first time buyers.
Speaking to the Resolution Foundation thinktank, Ms Morgan said that she supported reform of stamp to encourage home owners to downsize to smaller properties.
She said: “We have got to go back to building housing stock that people are going to move into in later life – in the Midlands there is a desperate shortage of bungalows and suitable accommodation for older people.”