Stamp Duty on Contracts of Employment

Budget Statement – in the House of Commons at 12:00 am on 14th April 1964.

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I have one small Stamp Duty proposal. Under the Contracts of Employment Act, 1963, which comes into effect in July, an employer is required to give each of his employees a written statement of the main terms of his employment, and I am advised that in certain circumstances the statement would be liable to Stamp Duty as an agreement. The duty would only be 6d., but I do not think that these statements should be liable to any duty. I propose, therefore, that all employment agreements should be exempted from Stamp Duty.