2 Year stamp duty holiday called for - Balls

michaels

In a move designed to upset Graham, shadow chancellor Ed Balls has suggested using the proceeds of the 4G spectrum auction (not held yet, returns uncertain and probably already budgeted for) to fund a 2 year stamp duty holiday.

I have been looking at buying a place to let out - this would improve the rate of return :beer:

Loughton_Monkey

michaels wrote: »

In a move designed to upset Graham, shadow chancellor Ed Balls has suggested using the proceeds of the 4G spectrum auction (not held yet, returns uncertain and probably already budgeted for) to fund a 2 year stamp duty holiday.

I have been looking at buying a place to let out - this would improve the rate of return :beer:

Brilliant news - especially for the Arabs! No self respecting Arab would buy anything less than £2 mil in London, so that's a £140K bonus for the rich!

Large Gin & tonics all round.... [oops! Arabs don't drink do they?]

System

It's a good idea for everyone, people who are trying to trade up or down would subtract that saving from their asking price in a lot of cases

michaels

Small print says first time buyers and 250k max

A._Badger

Wouldn't it be a better idea to help manufacturing industry? Or is that too radical for Mr Balls, so steeped was he in Mr Brown's miracle property boom?

moneyinmypocket

It's bound to happen - help the housing market = fix the economy

Graham_Devon

Why not use the proceeds of any sale, to either invest in construction, or pay off some of our debts, therefore reducing our exposure and interest payments?

Seems labour are still the same, giving away any proceeds before they even have chance tott them up.

chewmylegoff

i'd prefer if the proceeds were used to pay for ed balls to have a permanent holiday....on the moon.

A._Badger

chewmylegoff wrote: »

i'd prefer if the proceeds were used to pay for ed balls to have a permanent holiday....on the moon.

Uranus, surely?

Well... no... not yours, of course.

Wookster

Apparently Balls thinks it will "kick start" the economy. He is clearly deluded if he thinks something this minor will have a serious impact on the economy.

chewmylegoff wrote: »

i'd prefer if the proceeds were used to pay for ed balls to have a permanent holiday....on the moon.

Have you seen Iron Sky? I shudder to think what balls might get up to there.

HAMISH_MCTAVISH

Daft idea.

Stamp duty isn't the problem. Mortgage rationing is.