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Budget 2015: Calls for regional Stamp Duty structure

Mar 12, 2015
Ahead of the Budget next week, Alistair Bingle, Managing Director of Bishop’s Move, the UK’s largest family owned removals company which was founded 161-years ago, is calling for the introduction of a regionalised Stamp Duty structure.

This would “encourage the populous to move to areas other than the main towns and cities which would in reality ease prices in areas such as London and stimulate regional economic growth”.

Alistair Bingle comments: “Despite Stamp Duty being welcomingly reformed in the 2014 Autumn Statement, I do believe the Chancellor should look to again adjust this tax in the upcoming Budget by introducing a regionalised Stamp Duty structure. If Stamp Duty was set up and carefully aligned with regional house prices it would, by virtue, encourage the populous to move to areas other than the main towns and cities which would in reality ease prices in areas such as London as there wouldn't be such a demand and stimulate regional economic growth in other areas of the UK. The Budget presents an ideal opportunity for the Government to introduce a regional Stamp Duty structure in order to achieve greater home ownership of the young which has halved in the last 20-years. Failure to do so will put the Government in a position where it looks like it is undermining its previous attempts to kick-start the property market at last year’s Autumn Statement.”

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