MPs debate stamp duty petition

MPs yesterday debated a petition for a six-month extension of the stamp duty holiday, with it suggested that as the March 31 cut-off nears, buyers who miss the deadline could pull out of deals, driving a collapse in sales as property chains are broken. Labour’s Abena Oppong-Asare said an “overheating of the market now looks set to be followed by a crash of many people’s sales”, while Conservative MP Kevin Hollinrake urged ministers to taper the end of the tax relief, suggesting that buyers who had secured a mortgage offer by the end of February should have a further three months to complete their purchase after the current cut-off. Jesse Norman, Financial Secretary to the Treasury, said that the Government will continue to listen to concerns.

The Daily Telegraph

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