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Government urged to stop 'dithering' over stamp duty plan

Tuesday 12th August 2008

The government has been urged to act quickly if it is to implement the rumoured plan to scrap stamp duty.

Speculation that the government is to do with away with the levy on a temporary basis or introduce a payment holiday initially surfaced last week.

However, since then estate agents have claimed that potential buyers are reacting to the news by holding off on a purchase in the hope that they will not have to pay the duty and thus further slowing down the housing market.

In response, Mike Ockendon, director general of the Association of Home Information Pack Providers (AHIPP) has urged the government to stop "dithering" and introduce the measure as soon as possible.

Mr Ockenden said: "The suspension of stamp duty, incentives to mortgage lenders and support for developers will give the government a real chance of kick starting this dreadful market.

"The number of new properties standing empty is astonishing. By taking in these lower priced completed properties government could provide real support to key workers, particularly in inner city areas."

© Copyright 2007

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