A leader in this morning's Times calls for Stamp Duty to be abolished, after reports that the reforms to the tax are not having the desired impact. The TPA has long said that Stamp Duty should be abolished, first in the final report of the 2020 Tax Commission, The Single Income Tax, and then as part of our Stamp Out Stamp Duty campaign.
The Times leader (£) makes the case very strongly:
Stamp duty at any level creates economic distortions. It is in effect a tax on labour mobility. It encourages people to stay put when changing jobs and to commute further. It deters movement across the country for people to take up jobs for which they have skills. It thereby worsens Britain’s problem of low productivity.