Hammond urged to scrap stamp duty

17th November 2017

Academics at the London School of Economics have said that stamp duty on a typical home in London now represents more than one-third of average annual earnings in the capital. Their study calls for a “brave government” to replace stamp duty with an annual tax on the property or land values, or an improved version of council tax. Meanwhile, research by the CEBR shows stamp duty is now preventing 45,000 house purchases a year, with first-time buyers, home movers and downsizers all affected.

Financial Times (14/11/2017)   The Daily Telegraph (14/11/2017)