Ed Balls and the BBC

The BBC are faithfully reporting Ed Balls' call for a stamp duty holiday. Can I just remind the Labour party and, their propaganda arm the, BBC of the history of stamp duty rates.

13th March 1984

• Up to £30,000 - 0%
• Over £30,000 - 1%

20th December 2001

Due to the recession the Chancellor Nigel Lawson increased the threshold to stimulate demand.

• Up to £250,000 - 0%
• Over £250,000 - 1%

20th August 1992

As demand grew the rates were put back to the original figures.

• Up to £30,000 - 0%
• Over £30,000 - 1%

16th March 1993

The threshold was increased as the average house price increased.

• Up to £60,000 - 0%
• Over £60,000 - 1%

8th July 1997

A new Labour government saw an easy way to raise additional taxes so introduced new higher bands.

• Up to £60,000 - 0%
• Over £60,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 1.5%
• Over £500,000 - 2%

24th March 1998

Less than a year later the rates were increased again.

• Up to £60,000 - 0%
• Over £60,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 2%
• Over £500,000 - 3%

16th March 1999

In the follow years budget the rates were increased again.

• Up to £60,000 - 0%
• Over £60,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 2.5%
• Over £500,000 - 3.5%

28th March 2000

And again at the budget in 2000 where they stayed for many years.

• Up to £60,000 - 0%
• Over £60,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 3%
• Over £500,000 - 4%

17th March 2005

The based threshold was raised in this budget.

• Up to £120,000 - 0%
• Over £120,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 3%
• Over £500,000 - 4%

23rd March 2006

The threshold was again raised in this budget but by just £5,000

• Up to £125,000 - 0%
• Over £125,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 3%
• Over £500,000 - 4%

3rd September 2008

The threshold was again raised often referred to the stamp duty holiday due to the credit crunch.

• Up to £175,000 - 0%
• Over £175,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 3%
• Over £500,000 - 4%

Rates as from 1st January 2010

The threshold was cut back to the original amount prior to the stamp duty holiday rates.

• Up to £125,000 - 0%
• Over £125,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 3%
• Over £500,000 - 4%

Current Rates as from 25th March 2010

In a pre-election budget the Chancellor Alistair Darling announced a new threshold for first time buyers to stimulate demand.

• Up to £250,000 - 0% (first time buyers only)
• Up to £125,000 - 0%
• Over £125,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 3%
• Over £500,000 - 4%

Rates from April 2010

A new rate is introduced for homes over £1,000,000

• Up to £250,000 - 0% (first time buyers only)
• Up to £125,000 - 0%
• Over £125,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 3%
• Over £500,000 and under £1,000,000 - 4%
• Over £1,000,000 - 5%

Rates from 1st January 2012

The first time buyer rate is taken away.

• Up to £125,000 - 0%
• Over £125,000 and under £250,000 - 1%
• Over £250,000 and under £500,000 - 3%
• Over £500,000 and under £1,000,000 - 4%
• Over £1,000,000 - 5% 

Now Labour call for a stamp duty holiday?