Mr Terence Higgins: The abolition of the stamp duty on mortgages from 1st August, announced in the Budget, will reduce the initial cost of house mortgages. Charges by building societies, including mortgage interest rates, are a matter for the societies concerned.
No Stamp Duty on Substituted Securities
Mr Robert Taylor: Some hon. Members would disagree with the first part of that reply. There would seem to be a good case for the introduction of stamp duty on credit cards, which would have the effect of making unsolicited cards invalid and also provide a useful source of added revenue. Will my hon. Friend consider that suggestion?
24. Stamp Duty
Stamp Duties (Statutory Effect of Resolutions)
Orders of the Day — 43. Stamp Duties (Statutory Effect of Resolutions)
33. Stamp Duty (Exemption for Transfers of Loan Capital)
34. Stamp Duty (Jobbers)
Stamp Duty: Exemption for Transfers of Loan Capital
Ordered,That Commission Document No. R/923/76 relating to Stamp Duty on Securities be referred to a Standing Committee on Statutory Instruments, &c.—[Mr. Stoddart.]
..., notwithstanding the provisions of Standing Order No. 73A (Standing Committee on Statutory Instruments, &c.), the Standing Committee considering Commission Document No. R/923/76 relating to Stamp Duty on Securities shall be able to sit for up to two and a half hours after the commencement of its proceedings.—[Mr. Thomas Cox.]
Mr Oscar Murton: With the permission of the House, I propose to put together the Questions on the two motions relating to Customs and Excise and Stamp Duty on Securities.
Stamp Duty on Securities
Reduced Rates of Stamp Duty on House Purchase
Mr Vivian Bendall: Does my hon. Friend agree that one of the major contributions to the situation at present is the high rate of stamp duty, which has not been reconsidered for some time? It starts at £15,000, and no consideration has been taken of inflation over the last two or three years.
Mr Tam Dalyell: With regard to clause 9, will stamp duty exemption extend to private treaty purchases made by the fund or to those bodies that it assists with grants? I do not expect the right hon. Gentleman to answer off the top of his head, but it might save a lot of time if some answer could be given.
Mr David Stoddart: ...increases in house prices, and the increases in solicitors' and estate agents' costs, will the hon. Gentleman put pressure on the Chancellor of the Exchequer to raise the exemption limit for stamp duty in his Budget?