HC Deb 03 November 1987 vol 121 cc688-9W
Mr. Sackville

asked the Chancellor of the Exchequer what stamp duty relief will be available to licensed dealers when the relief provided by section 42 of the Finance Act 1920 comes to an end.

Mr. Norman Lamont

It is proposed that the Treasury should make regulations extending the stamp duty and reserve tax exemptions for market makers provided by sections 81 and 89(1) of the Finance Act 1986 to authorised dealers carrying out transactions in securities which cannot be dealt in on a recognised investment exchange. A draft of the proposed regulations is being placed in the House of Commons Library.

Mr. Burns

asked the Chancellor of the Exchequer what would be the cost in a full financial year of abolishing stamp duty on the purchase of houses.

Mr. Norman Lamont

About £670 million, at forecast 1987–88 levels, for residential property of all kinds.

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