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Stamp Duties

Volume 464: debated on Monday 15 October 2007

To ask the Chancellor of the Exchequer what assessment he has made of the effect of stamp duty on (a) the London Stock Exchange's competitiveness and (b) the value of equities; and if he will make a statement. (154282)

The Government keep all taxes and their effects on markets under constant review. However, it is difficult to accurately isolate the effects of stamp duty on either the London Stock Exchange or equity values given the number of other factors influencing it.

The continued long-term growth in both the number of trades completed on the London Stock Exchange and the number of new companies listed highlights that the City of London continues to be a leading global centre for financial services.

To ask the Chancellor of the Exchequer what assessment he has made of the effect of stamp duty on the housing market; and if he will make a statement. (154283)

The Government keep all taxes and their effects on markets under constant review. However, it is difficult to accurately isolate the effects of stamp duty land tax on the housing market given the number of other factors influencing it.

Since 1997 the stability and prosperity of the UK economy has allowed nearly two million more people to become homeowners. Last year in England, 185,000 net additional homes were added to the housing stock, the highest level since 1990.