Part of the debate – in the Scottish Parliament at on 20 December 2016.
Derek Mackay
Scottish National Party
It certainly is the case that the outturn figures show that LBTT raised £425 million in 2015-16, in comparison with our original pre-forestalling forecast of £381 million. It is fair to ask that we look at the nature and the composition of the transactions to see what is happening in the market, and I will commit to continuing to do that, to ensure that the tax system is having the right effect. The composition of transactions is largely unchanged compared with the composition before LBTT was introduced.