§ 1. Mr. Grantasked the Chancellor of the Exchequer what would be the cost to the Exchequer of raising the level of stamp duty on property transactions to £5,000.
§ The Chief Secretary to the Treasury (Mr. John Diamond)The cost of raising the stamp duty exemption limit on conveyances of land and houses to £5,000 would be about £1¼ million in a full year.
§ Mr. GrantWill the Chancellor bear in mind when framing his Budget that, in view of the rise in property values since the last concession on stamp duty, here is a very real way in which he can help home ownership, and will he follow the excellent precedent of the previous Administration in easing this burden?
§ Mr. DiamondThe Chancellor has carefully listened to what the hon. Gentleman has had to say.