Following the report by the LSE (covered in the Daily Telegraph this morning) that stamp duty is a negative burden on the UK economy, TaxPayers' Alliance Chief Executive John O'Connell said:
"This pernicious tax prevents younger people from getting on the housing ladder, and stops older people downsizing to more manageable homes. This hurts people at every stage of life and has slowed the housing market in the UK, greatly damaging the economy. Brits are struggling under the heaviest tax burden in 30 years, and this is in part because the UK has the highest property taxes in the developed world. If the government wanted to help people to buy their own homes and get on in life, they should scrap this relic of a tax completely."
The TaxPayers' Alliance has long campaigned for the abolition of stamp duty:
- The TPA first called for stamp duty to be abolished in 2012 with the final report of the 2020 Tax Commission.
- The TPA began the 'Stamp Out Stamp Duty' campaign in 2013, with events across the country and support from estate agents.
- Reforms called for by the TPA in 2014 reduced the burden on hard-pressed taxpayers, but failed to end the damage caused by stamp duty,
TPA spokesmen are available for live and pre-recorded broadcast interviews via 07795 084 113 (no texts)