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HM Treasury written question – answered on 24th July 2017.

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Photo of Lord Flight Lord Flight Conservative

Her Majesty's Government what assessment they have made of the impact of the stamp duty levy on investment in new homes available for rent.

Photo of Lord Bates Lord Bates The Minister of State, Department for International Development

The Government introduced the higher rates of stamp duty on additional properties to support home ownership and first-time buyers. It is right that people should be free to purchase a second home or invest in a buy-to-let property, but the Government is aware that this can impact on other people’s ability to get on to the property ladder.

The latest estimate for this measure’s receipts for 2016-17 is £1.6 billion, compared to an initial forecast of £0.7 billion.

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