Stamp Duty "Holiday"

Alistair Darling announced a Stamp Duty Payment Holiday.

The threshold for Stamp Duty has been temporarily raised to £175 000. The idea is to get the housing market going again.

Will it work?

In the early 1990s, thne Chancellor Norman Lamont tried it. He was asked his opinions this time round. He mentioned that it had not worked then & he did not expect it to work now.

It will have no effect in London & the South East where the average property for a first time buyer costs £241,985.