§ Mr. MacleanTo ask the Chancellor of the Exchequer (1) what has been the average increase in stamp duty payable on purchases of private dwellings as a result of(a) the 1997 Budget measures and (b) the 1998 Budget measures; [70679]
(2) what has been the average increase in stamp duty payable on the purchase of business premises as a result of (a) the 1997 Budget measures and (b) the 1998 Budget measures. [70698]
§ Ms Hewitt[holding answer 15 February 1999]: The 1997 Budget measure is estimated to have increased the average stamp duty payable from July 1997 on transactions over the £250,000 threshold on residential property by around £3,000, and by around £15,000 for land and commercial property. The 1998 Budget measure is projected to result in similar average increases in 1998–99.