Stamp Duties: Coronavirus

Treasury written question – answered on 9th June 2020.

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Photo of Alberto Costa Alberto Costa Conservative, South Leicestershire

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing a stamp duty holiday for people purchasing new homes as a means of stimulating the economy after the covid-19 outbreak.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

Vital measures to control the spread of COVID-19, such as social distancing, have resulted in a drop in property transactions. From 13 May in England, viewings can once again be held as long as social distancing measures remain in place, and people can move house safely.

The Government does not currently have any plans to change the amount of Stamp Duty on property purchases. However, the Government keeps all tax policy under review, including as part of the response to the COVID-19 pandemic.

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