UK Parliament / Open data

Stamp Duty Land Tax Bill

Proceeding contribution from David Gauke (Conservative) in the House of Commons on Wednesday, 10 December 2014. It occurred during Debate on bills on Stamp Duty Land Tax Bill.

I am grateful to my hon. Friend for raising that point, because the Government have addressed this issue fully during this Parliament. A few years ago, SDLT was starting to develop a reputation as a tax that was easily abused—he mentioned one means by which that was done—but this Government have introduced several measures to deal with that. We have seen a substantial decline in the marketing of SDLT avoidance

schemes, and the introduction of the annual tax on enveloped dwellings has been successful in discouraging avoidance. He is right to highlight the issue, but we are making changes in the context of a SDLT that is perhaps less leaky than when we came into office a few years ago. That enables us to make our changes, which benefit properties in a way that is, none the less, affordable for the Exchequer. As the Chancellor made clear last week, the policy will deliver a tax bill cut for 98% of people who pay SDLT, and the previous economic distortions in the system have been removed, which benefits the housing market generally.

Type
Proceeding contribution
Reference
589 c912 
Session
2014-15
Chamber / Committee
House of Commons chamber
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