Scrapping stamp duty would be cost neutral, says former Tory treasurer

A former Tory treasurer has suggested that scrapping stamp duty would be cost neutral, as homeowners would spend more on home improvements. Lord Stanley Fink said that high stamp duty bills are prohibiting even wealthy home movers from spending money on furniture, home decor and extensions. Scrapping or cutting stamp duty on home purchases would lead to a rise in such spending, he said, resulting in a loss-cancelling boost for the Treasury from a bigger tax take via the industry.

The Sunday Telegraph (23/09/2018)