Unintended consequence of Stamp Duty holiday

Tuesday, 09 September 2008 18:22
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Buy-to-let property investors, who have long been elbowing first-time buyers out of the housing market, have emerged as unexpected beneficiaries of the stamp duty holiday announced this week.In an attempt to ease affordability for first-time buyers and re-energise the housing market, the government waived the 1 per cent stamp duty for properties under £175,000 for the next year. Is there no limit to the government's incompetence and inability to foresee the consequences of its decisions? Article in Financial Times.

 

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