Properties that are valued up to £250,000 could have stamp duty suspended as part of the kick-start to get the housing market going again. The idea behind the 12-month payment holiday is to show that the Government is backing house owners while the house prices have slumped.
Ministers have also had other ideas to kick-start the housing market. These could be things that the government may also decide to do. They include:
·Mortgages to be offered by local councils.
·More unsold properties bought by housing corporations and rented out reasonably.
·People living in council accommodation using their right to buy discounts as a deposit on a private sector home.
Stopping stamp duty may be a big gamble for the government and it seems that the housing market slump is more prolonged than thought a year ago. Alistair Darling admitted this yesterday and also said that it is important to be straight with the people.
John Major also tried the same tactic in the 90’s. It turned out to not have an impact on the falling properties prices.
News brought to you by lowerpremium.co.uk
August 06th 2008
Companies found responsible for serious losing data or breaching data protection rules face more than... {more}
April 16th 2010
Next month Birmingham's Commercial Vehicle Operators Show opens and is a chance for manufacturers... {more}
March 31st 2010
A boat yard in Barrow has received a £300 million boost for their shipyard, as the Ministry of Defence... {more}
March 29th 2010
