§ Mr. George Gardinerasked the Chancellor of the Exchequer what would be the saving in administrative costs of raising the threshold for stamp duty on house purchase from £15,000 to £25,000.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 3 April 1979; Vol. 965, c. 604], gave the following answer:
I regret that in the time available it has not been possible to provide the information requested. I will write to the hon. Member.
§ Mr. Dodsworthasked the Chancellor of the Exchequer what is the percentage of domestic house purchases which now attract stamp duty of 2 per cent. for the current year and each of the past five years.
924W
§ Mr. Robert SheldonThe 2 per cent. rate of stamp duty came into force on 1 May 1974, and the only relevant available information relates to sales of residential property in England and Wales in October 1974, November 1975, November 1976 and November 1977. For these months the percentage of all sales of residential property liable to stamp duty at 2 per cent. were as follows:
October 1974 1.7 November 1975 1.9 November 1976 2.4 November 1977 4.2