§ Mr.. PriskTo ask the Chancellor of the Exchequer what estimates he has made of the average length of lease for a small business in his calculations for stamp duty land tax in the Finance Bill. [122498]
§ Mr. BoatengThe estimates of additional revenue from the reform of the rental element of lease duty announced in Budget 2003 are based on the distribution of lease lengths for non-residential new leases from the Survey of Property Transactions, and not merely on the average length of non-residential new leases. Transactions entered into by many small businesses are expected to be exempt from the rental element of Lease Duty under the proposed reform, which includes a £150,000 threshold.
§ Mr. PriskTo ask the Chancellor of the Exchequer in preparing the document accompanying the announcement on the euro, what estimates he has made of(a) the proportion of mortgages with fixed rates, 275W (b) the level of mortgage debt and (c) the level of housing market volatility in the United States of America. [122499]
§ Mr. BoatengThe EMU study Housing, consumption and EMU notes particular features of the US housing market. These issues will be considered further as part of the Miles Review announced in Budget 2003.