Think-tank in stamp duty plea

The Centre for Policy Studies (CPS) has called for an extension of the stamp duty holiday, saying that keeping the March 31^st cut-off for the relief could “jeopardise the recovery and deepen the housing crisis”. The think-tank says the relief measure put in place to support the property market amid the pandemic has prevented a collapse in the housebuilding sector, arguing that drawing it to a close next month risks “repeating the housing bust of 1988 when the market slumped after tax relief was ended”. Not only has the CPS called for an extension to the stamp duty holiday, it has suggested the levy should either see the threshold permanently increased or be abolished completely. The think-tank’s Jethro Elsden said stamp duty “may well be the worst tax on the UK’s statute books”, adding that it “damages the economy”.

The Sun (20/02/2021)   Sunday Express (20/02/2021)