Suspend Stamp Duty Immediately: ePetition

Paul Hajek | 24 Aug 2011

a row of housesThe Government has made it easy to set up petitions to air views which the politicians may not be considering.

You can now register your ePetition as they are known on a government website

I decided to use this democratic devise to raise the debate on the plight and future perils of the Housing Market in England and Wales, which in new parlance is suffering “considerable headwinds”

We all know that the volume of transactions in the market is significantly below the long term trend.

In recent months levels have fallen which may imply that the average home owner may now only move house once every 25 years compared with the usual norm of 7 years.

The Housing Market is not just important to conveyancing solicitors, estate agents, surveyors, lenders and removal companies.

So much more of the economy depends on the Housing Market. 

Retail strategy now is all about incentives and reasons to buy.

The Government could take a view that increased activity will bring tax revenue in other areas.

A functioning Housing Market (and I definitely am not suggesting an overblown Housing Market) is crucial to the economic well being of the country.

But how many of us are trying to do things to improve matters?Well that’s when I thought an ePetition could attempt to offer some solutions

My ePetition can be found here and it calls for the immediate suspension of stamp duty for 2 years

The petition seeks support because:

“The housing market is an important driver for the UK economy, which creates jobs and wealth. As a temporary stimulus to offset the fear of double dip recession the UK needs further incentives and a 2 year suspension of Stamp Duty when moving home could be the spark to light the recovery and stave off further impending gloom”

If you feel that the suspension of stamp duty is a worthy ambition, please register your support by going to the website above

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