More of us are being hit by the cost of stamp duty as the price of houses rise. Currently the stamp duty threshold is £250,000. According to Halifax the amount of stamp duty raised has increased to £3.4bn in 2005/2006. It needs updating to be inline with the current market.
Our view
The Government needs revenue to ensure the country runs, whether you like it or not, taxes need to be paid.
With pressure on for 'booze' barriers at Dover to come down, expect other taxes including Stamp Duty to remain and worsen.