New research from the Adam Smith Institute shows scrapping Stamp Duty on primary residences in the UK could allow for 38,000 homes to be built every year, along with 349,000 housing sales across the same period. Boosting economic activity by nearly £20 billion a year…
The analysis also finds binning the tax would increase housebuilding by £12.9 billion annually, and generate £610 million in additional VAT receipts from household spending on renovation and decoration. Recent YouGov polling found 63 percent of the public back scrapping it, while just 13 percent oppose it. Easy reading for the Tories, who’ve already pledged to axe it. Reform previously promised to scrap it for homes purchased up to £750,000, although there was no mention of it this morning…
