§ Mr. LawsTo ask the Chancellor of the Exchequer if he will estimate the revenue cost of restructuring stamp duty on residential property sales so as to charge marginal rates of(a) 0 per cent. on property sales of £100,000 or less, (b) 2 per cent. on sales revenue of between £100,000 and £199,999, (c) 3 per cent. on sales revenue of between £200,000 and £299,999, (d) 4 per cent. In sales revenue of £300,000 to £399,999, (e) 5 per cent. on sales revenue of 1099W £400,000 to £499,999, (f) 6 per cent. on sales revenue of £500,000 to £749,999 and (g) 7 per cent. on sales revenue of £750,000 and above. [135308]
§ Ruth KellyThe revenue cost of restructuring stamp duty on residential property sales according to the scheme described above is estimated to be £700 million in 2004–05. This does not include any allowance for behavioural changes.