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Stamp Duties

Volume 487: debated on Monday 2 February 2009

To ask the Chancellor of the Exchequer (1) when he plans to reduce the stamp duty threshold to £125,000; (252195)

(2) what recent estimate he has made of the cost to the public purse of the temporary increase in stamp duty thresholds; and how it will be financed.

The estimated cost of the stamp duty holiday was published at the pre-Budget report, which can be accessed here:

http://www.hm-treasury.gov.uk/prebud_pbr08_repindex.htm.

The funding of this is not hypothecated to a particular source of revenue. The holiday is due to end at midnight on 3 September 2009.

To ask the Chancellor of the Exchequer (1) if he will bring forward proposals to reduce levels of stamp duty for individuals in shared purchaser arrangements when they are purchasing the share of a house not in their possession; (253166)

(2) if he will bring forward proposals to allow house purchasers to pay stamp duty only on the proportion of the house not in their ownership under shared purchaser arrangements.

Stamp duty, like all other taxes is kept under review. Details on the stamp duty treatment of shared ownership purchases can be found at:

http://www.hmrc.gov.uk/so/shared-owner.htm