Stamp Duty reform an overdue victory for taxpayers
- Welcome victory for TaxPayers' Alliance Stamp Out Stamp Duty campaign, as the burden of this pernicious tax on most homebuyers is reduced
- The deficit remains too high, however, and the Chancellor failed to address this elephant in the room with the detail taxpayers deserve
- More fiddly tax measures will create further complexity
"Stamp Duty reform will be an early Christmas present for young people looking to get on the housing ladder and families who want to move home. The Chancellor is right to significantly reduce the burden that this tax on ambition has placed on hard-pressed taxpayers. Let's hope this is a first step towards abolishing Stamp Duty altogether.
"However, the deficit remains extraordinarily high, yet there was precious little detail on where necessary savings will be found and how the cost of government will come down. Our out-of-control borrowing remains the most fundamental problem this country has and we must face up to it. Leaving the next generation to pay off our debts isn't just economically wrong, but morally wrong too.
"This was a Statement loaded with the sort of fiddly tax breaks, credits and exemptions that have created our hopelessly complex tax code. When we need simplification, what we saw was additional needless confusion."
On the announcement of further funding for the NHS and GP services, he continued:
"The Chancellor shouldn't have announced more cash for the Health Service, but an end to the ring-fencing of the health budget. The boss of NHS England believes there are £22 billion of savings to be found across the organisation, but if the budget is protected there's no motivation to find them."
On the removal of Air Passenger Duty on under-12s and later on under-16s, he continued:
"The Chancellor is right to give families a much-needed break, but it is still a painful burden on individuals and businesses. Studies have shown the abolition of the duty could pay for itself, so all parties should commit to go further in the next Parliament."
On the announcement of a £15 billion roads programme, he continued:
"We must improve our infrastructure, but every sensible road decision is overshadowed by the Government's insistence on wasting £50 billion on a HS2-shaped white elephant."
Campaign Manager, TaxPayers' Alliance
24-hour media hotline: 07795 084 113
Notes to editors
2. The TaxPayers' Alliance launched the Stamp Out Stamp Duty campaign in August 2013. Full details of the campaign can be found here.
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