HC Deb 11 February 1982 vol 17 cc468-9W
22. Sir William van Straubenzee

asked the Chancellor of the Exchequer what would be the rate of stamp duty required to bring it into line with the movement in house prices since 1979.

Mr. Ridley

In order to bring into line with the movement of house prices since 1979 the thresholds for the reduced rates that apply to houses—land and buildings—the following changes would have to be made:

  1. (a) Exempt from duty: not exceeding £17,600 (down from present thresholds of £20,000).
  2. (b) ½ per cent. £17,601 to £23,470 (down from present band level of £20,001 to £25,000).
  3. (c) 1 per cent. £23,471 to £29,340 (down from present band level of £25,001 to £30,000).
  4. (d) 1½ per cent. £29,341 to £35,200 (changed from the present level of £30,001 to £35,000).
  5. (e) 2 per cent. over £35,200 (up from present level of £35,000).

28. Mr. Colin Shepherd

asked the Chancellor of the Exchequer what he estimates will be the yield from stamp duty on house purchases in the year 1981–82.

Mr. Ridley

£285 million from residential property.