Housing Market

Part of Oral Answers to Questions — Treasury – in the House of Commons at 10:30 am on 1st March 2007.

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Photo of Stephen Timms Stephen Timms The Chief Secretary to the Treasury 10:30 am, 1st March 2007

We need to do more to address the challenges facing first-time buyers, and I hope that the hon. Lady will welcome the increase in the stamp duty threshold, as that will be particularly useful and helpful. In addition, I remind her of the work that has been done on shared equity: we now expect 160,000 households to be helped into home ownership by 2010 through shared equity in various forms, and that is double the original estimate. We are making progress, although there is no doubt that more must be done. I am confident that, in the CSR, we will be able to announce steps that will help further.

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stephen reid
Posted on 2 Mar 2007 6:26 pm (Report this annotation)

The comment about the increase in stamp duty is cynically disingenuous when one see how this Government has raised the burden over the years. By not raising the threshold enough, as with inheritance tax, the Government has punished people whose only 'crime' is to want to own their home and then leave it to their families when they die.