Nationwide Building Society has challenged the new Prime Minister Gordon Brown to look at revamping stamp duty as a priority. The call is for stmpy duty to be linked to house price inflation and not be linked to fixed rate increases.
Nationwide claim that by revamping the stamp duty tax, Mr Brown will be showing the public that he is committed to helping families.
Our view
Nationwide are merely courting pr here. The fact remains that any Government needs to raise revenue and this one particularly. If they take some of it away from stamp duty, it will just appear elsewhere.