HC Deb 09 May 2002 vol 385 c341W
31. Hugh Robertson

To ask the Chancellor of the Exchequer if he will make a statement on the level of stamp duty on commercial property transactions. [53573]

Ruth Kelly

Stamp duty on property currently raises around £4 billion per annum, about 40 per cent. of which derives from commercial transactions. We regularly review the impact of stamp duty on all aspects of the commercial market.

My right hon. Friend the Chancellor confirmed in the Budget his intention to lift the cap on stamp duty relief for non-residential property transactions in disadvantaged areas, subject to state aids approval, giving a boost to commercial development in these areas.