Be brave Darling

It’s time to put an end to the Treasury’s stupidity over stamp duty. And Darling ignoring estate agents’ pleas for urgent talks is not helping. So what should be done? Well, I would suggest sacking whoever leaked the news that the government was even considering suspending stamp duty in the first place. But as a more long-term solution, what is needed here is bravery. The government should suspend the duty outright on properties under £250k at least to the end of the year, and maybe until the end of next year. Economists are telling us that next year is when we’ll feel the full effects of the crunch so why not scrap the charge until after that period? Nearly 90 per cent of the UK stamp duty payers own homes under the value of £250k. So surely suspending the duty temporarily would give home buyers a reprieve and inject much needed confidence into the national property market? The Treasury’s indecision is discouraging potential buyers, which of course leads to fewer sales and which in turn puts further downward pressure on house prices. Come on Darling. Make a stand.

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