§ Mr. Shersbyasked the Chancellor of the Exchequer if he is aware of the hardship being caused by the doubling of stamp duty on conveyancing of property; and if he will give consideration to reducing the total rate of duty in the interests of increasing home ownership and the mobility of labour.
§ Mr. Denzil DaviesStamp duty is not chargeable on house and land transfers less than £15,000 in value. The full 2 per cent. rate is only chargeable where the value exceeds £30,000. Between the two values there is a tapered scale from 1 per cent. to 1½ per cent. I have no reason to think that these rates give rise to hardship or difficulty for people who have to change house on a change of job.
§ Mr. Shersbyasked the Chancellor of the Exchequer what was the total revenue from stamp duty on conveyancing of property in each of the last five years for which figures are available.
§ Mr. Denzil DaviesThe net receipt of stamp duty on conveyancing of property in Great Britain was as follows:
£ million 1970–71 30.4 1971–72 49.5 1972–73 68.5 1973–74 74.3 1974–75 65.7
§ Mr. Shersbyasked the Chancellor of the Exchequer if he will publish in the Official Report in tabular form the amount of revenue from stamp duty on conveyances of property in each of the following price brackets: £15,000 to £20,000, £20,000 to £25,000, £25,000 to £30,000 and over £30,000 that has been received since he increased the rate of duty on 26th March 1974.
§ Mr. Denzil DaviesI will let the hon. Member have a reply as soon as possible.