asked the Chancellor of the Exchequer, what loss of stamp duty revenue in 1982–83 would occur as a result of the implementation of each of the following changes:(a) an increase of £5,000 in each of the thresholds for stamp duty applicable to house purchase, (b) an increase of £10,000 in each of the thresholds for stamp duty applicable to house purchase, (c) raising each of the thresholds for stamp duty applicable to house purchase by an amount which would restore them to the real value held in 1974, by comparison with (i) the retail price index and (ii) the Building Societies Association and Department of the Environment house price index, (d) replacing the present system with a system whereby stamp duty is levied at the appropriate rate only on that part of the house price which exceeds each threshold and (e) implementing changes (c) and (d) together.
[pursuant to his reply, 29 April 1982, c. 313.]: The thresholds apply to all transfers other than those of stocks and shares. It has been assumed that the increases of £5,000 and £10,000 at (a) and (b) are additional to the increase of £5,000 in the stamp duty thresholds which were part of my right hon. and learned Friend's Budget proposals and to which temporary effect has already been given. It is estimated that if these changes applied to the whole fiscal year their implementation would reduce the revenue in 1982–83 from stamp duty on all such transfers currently estimated at £410 million, after allowing for the Budget changes by:|