The media are reporting breathlessly that Gordon Brown is considering suspending stamp duty in an emergency measure to kick-start the housing market. Apparently the idea, being worked on by the Treasury, is part of a package of help for those famous "hard-pressed families".
Now what might the consequences of this leaked news be? Well if you were considering purchasing a house over the next few months wouldn't you hold off in case stamp duty is reduced soon. Yes, Gordon "economic genius" Brown has managed to screw the UK housing market again. His stealth taxes on housing (or more exactly moving) have disgusted me for some time now, massive increases in the rates of stamp duty, not increasing the stamp duty bands as house prices rose and of course the introduction of HIPs. Rather than being an economic genius, Gordon Brown has been revealed as just a genius for raising taxation and wasting the proceeds. The public have just worked out that the Emperor has no clothes and the public is angry.
Saturday 7-Up
2 hours ago
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