To ask the Chancellor of the Exchequer if he will estimate the reduction in revenue from applying higher rate stamp duty (3 per cent. to 4 per cent.) only to the amount from a property sale above the relevant threshold for that rate in a full tax year. (132813)

If all commercial and residential property sales above £250,000 were taxed where 1 per cent. was applied on the whole of the first £250,000, 3 per cent. on the excess consideration above £250,000 up to £500,000, and 4 per cent. on the excess consideration above £500,000, the reduction in revenue from stamp duty land tax is estimated at about £1.9 billion for the current financial year.