Lib Dems to raise stamp duty limit

The Liberal Democrats are promising to raise the stamp duty limit if they win the next election.

As reported on the BBC on Sunday, Liberal Democrat Treasury spokesman Vince Cable said raising the threshold to £150,000 would prevent over 400,000 home-buyers from paying the tax.

In an attempt to win over potential first time buyers, the Lib Dem proposals will see the average saving for a new buyer at more than £1,000.

“First time buyers are being squeezed out of the housing market not only by higher house prices but also by being swept into the stamp duty net,” he said.

“By failing to uprate the stamp duty threshold Gordon Brown has hit first time buyers and those on low incomes the hardest. ”

Links
BBC Online
Liberal Democrats