§ Mr. PendryTo ask the Chancellor of the Exchequer if he will bring forward the stamp duty relief for transfers of local authority housing stock, which was announced in the Budget, to include all such transfers made since the announcement. [130094]
§ Mr. Andrew SmithI am pleased to say that measures will be brought forward in Report Stage of the Finance Bill to ensure that transfers of housing from local authorities to registered social landlords taking place after 21 March will benefit from the new exemption. This will apply whether or not the social landlords concerned are constituted as charities.
Transfers under the large-scale voluntary transfer programme offer benefits for tenants and the programme reflects the Government's commitment to generate private finance to repair and improve the condition of social housing. Bringing forward the extension of the Stamp Duty relief to the earliest possible date following the 318W Budget announcement will help local authorities making transfers between 22 March and Royal Assent to the Finance Bill.
Local authorities who have made relevant transfers upon which Stamp Duty has been paid will be able to make claims to the Stamp Office for repayments as soon as Finance Act 2000 becomes law.