Taxation is a key component of government policy. It is not just about raising tax but also its impact on the economy.

What we don’t need now is further increases which would only make a bad system worse.

The market is not moving – there is no supply at the bottom, people are not downsizing or moving out of the cities.

We need to stimulate the housing market not stifle it with transaction taxes.

People need to move where jobs are: it is a massive transaction tax on mobility.

We need affordable homes – built off the back of developments of expensive homes

We want to create jobs in the whole home supply chain – builders, decorators, architects, diy stores, furnishers, etc

Builders want certainty – not unpredictable tax changes.

The stamp duty regime needs to be rethought. These are the findings of a report published by the LSE today and of think tanks.

The last changes failed. THERE WAS A REDUCED THE TAX TAKE ON EXPENSIVE HOMES BY £300M+ (land registry data).

Homes over £1.5M sold fell from 7410 (£20.3bn) in year to March 16 to 5856 (£15.2bn in year to March 17). Oxford Economics estimate this led indirectly to a loss of 14,000 jobs across the supply chain.

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