Osborne ends Stamp Duty holiday for first-time buyers
11/30/2011
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The Stamp Duty holiday for first-time buyers will not be extended and will end on March 2012, George Osborne announced today.
During his autumn statement the chancellor confirmed that he would not be bowing to pressure from industry bodies – such as the Council of Mortgage Lenders (CML) – to continue the Stamp Duty holiday.
Paul Smee, CML director, labelled Osborne's decision "disappointing".
He continued: "While the concession may not have stimulated additional demand, it was a significant help to home-owners entering the market and its removal runs counter to the themes of the new housing strategy."
Source: About Property