Help for First Time Buyers

Conservatives

At last month's Winter Garden’s Conference in Blackpool the shadow chancellor George Osborne pledged to scrap stamp duty for first time buyers for properties valued under £250,000.  He believes that this will help nine out of ten first time buyers.  

However, first time buyers in London would not benefit from these proposals as the average price in London is £300,000.  Mr Osborne claims that by placing a £25,000 levy on non-domiciled Britons, people who live in the United Kingdom, but make their money abroad, would pay for the reduction in stamp duty taxes.  

Our view

Political spin.  Having now analysed the figures, they just do not add up.  They would need to tax us elsewhere.

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