Stamp Duties (House Purchases).

Oral Answers to Questions — Finance Bill. – in the House of Commons on 6th May 1926.

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Photo of Mr Harry Day Mr Harry Day , Southwark Central

19.

asked the Chancellor of the Exchequer, if he is aware of the hardship inflicted upon persons desirous of purchasing their own houses on account of the high stamp duties charged; and will he, with a view to encouraging more people to purchase small properties, consider a reduction in the amount of stamping fees now chargeable on houses purchased or sold costing under £1,000.

Photo of Mr Ronald McNeill Mr Ronald McNeill , Canterbury

My Right hon. Friend is unable to agree that the stamp duty payable on the purchase of a house, which is a small item in the aggregate cost, could by itself be a serious deterrent to such purchases; nor can he at present see his way to reduce the rate of the duty.

Photo of Mr Harry Day Mr Harry Day , Southwark Central

Is the right hon. Gentleman aware that these fees are a great detriment to thrift, especially where poor people want to buy their own houses.

Photo of Mr Ronald McNeill Mr Ronald McNeill , Canterbury

No, Sir; that raises the same question in another form.

Photo of Mr Robert Morrison Mr Robert Morrison , Tottenham North

Is the right hon. Gentleman aware that, under the Small Dwellings Acquisition Act, the local authority pays 20 per cent. of the cost of the house, but the whole of the law charges and other fees fall upon the individual?

Photo of Mr Ronald McNeill Mr Ronald McNeill , Canterbury

Yes, I am quite aware of that.