Shadow Chancellor calls for Stamp Duty to be ditched for two years for first-time buyers in bid to boost the housing market and economy.
Ed Balls, the Shadow Chancellor, wants to see Stamp Duty ditched for first-time buyers for two years.
Speaking in Manchester at the Labour Party conference, Balls will say that such a holiday – coupled with 100,000 new affordable homes – will get the housing market moving and stimulate the economy.
The Stamp Duty holiday and new homes would be paid for with the money raised from the sale of the 4G mobile spectrum.
The Government previously implemented a Stamp Duty holiday for first-time buyers on properties worth up to £250,000, which came to an end back in April.
What do you think? Is this a good idea? Will this stimulate the housing market and the economy? Or could the £4 billion raised by selling off the 4G spectrum be better spent elsewhere? Let me know your thoughts in the comment box below.
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