In response to criticism of Stamp Duty Land Tax by a number of MPs in today's Westminster Hall debate, Jonathan Isaby, Chief Executive of the TaxPayers' Alliance, said:
"Stamp Duty is unfair, unjust and must be reformed. It stops ordinary families moving up the property ladder, discourages the elderly from downsizing, and worst of all is a barrier to young people looking for their first home.
"The Treasury's refusal to move thresholds in line with the property boom has made the pernicious effects of Stamp Duty all the more damaging. A tax originally designed only for the very wealthy now hits millions of hard-pressed families. The Chancellor has one last chance to prove he is on the side of current and aspiring homeowners in the Autumn Statement, and drastic reform of Stamp Duty must be a part of that."Previous research by the TaxPayers' Alliance and Walbrook Economics
suggests radical reform of Stamp Duty is possible without affecting overall Treasury revenues.
TPA spokesmen are available for live and pre-recorded broadcast interviews via 07795 084 113 (no texts)
Campaign Manager, The TaxPayers' Alliance
24-hour media hotline: 07795 084 113
Notes to editors
1. Founded in 2004 by Matthew Elliott and now with 80,000 supporters, the TaxPayers’ Alliance (TPA) fights to reform taxes, cut spending and protect taxpayers. Find out more about the TaxPayers' Alliance at www.taxpayersalliance.com
2. The TaxPayers' Alliance has produced a number of research papers on the subject of Stamp Duty.