HC Deb 22 February 1966 vol 725 c224
36. Mr. Fisher

asked the Chancellor of the Exchequer whether, in order to assist home ownership, he will abolish the Stamp Duty on house mortgages up to £3,500.

Mr. MacDermot

I have noted the hon. Member's suggestion.

Mr. Fisher

Would the hon. and learned Gentleman bear in mind, when he comes to consider these matters at the appropriate time, that Stamp Duty on home purchases up to £3,500 has been abolished but that the Stamp Duty on house mortgages is still levied? Are not those who must buy their houses on mortgages, certainly on the face of it, in greater need of relief than those who are able to purchase their houses outright?

Mr. MacDermot

The transfer duty exemption in fact applies to houses with a value of £4,500. I am aware of the position and I assure the hon. Gentleman that we have looked into the matter carefully. I might add that the Stamp Duty on a mortgage of £3,500 is at present £4 7s. 6d.