Stamp duty 'is a plaster on underlying problems'
04-Dec-2009
Stimulation of the housing market may not be achieved simply through the
stamp duty holiday, in news that may be of interest to those stepping onto the firstrung of the property ladder.
Katy John, spokesperson for PricedOut.org.uk, a campaign for affordable housing in the UK, said there are other issues that should take precedence.
Among these is the focus on providing housing that is reasonable and within people's means.
Instead of a
stamp duty relief extension, the organisation would rather see the government build more properties and to stick to their target of three million homes by 2020.
Ms John commented: "
Stamp duty relief is a sticking plaster on the underlying problems."
"Allowing first-time buyers the chance to get onto the market is still a key issue. But
stamp duty exemption is not the best way to tackle that."
She added sensible lending is also an important factor in market recovery.
Ms John's comments came in response to an early day motion put to parliament by Chorley MP Lindsay Hoyle calling for an extension of the tax relief.
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