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Enterprise Areas

Volume 403: debated on Monday 14 April 2003

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To ask the Chancellor of the Exchequer what percentage of UK housing stock will benefit from stamp duty exemption in enterprise areas. [107674]

The relief from stamp duty in disadvantaged areas has already benefited thousands of house-buyers and businesses since it was introduced on 30 November 2001 for all properties where the consideration does not exceed £150,000. The Inland Revenue estimates that around 4 per cent, of all transactions in UK residential property had claimed this relief in the period between implementation of the relief and 31 January 2003.