Prime Minister dismisses industry concerns about stamp duty tax

Monday 25 January 2016  / Ruth Montia

The stamp duty changes that will come into action on 1st April, have caused much debate amongst the property industry since it was announced last week. There have been many comments recorded and earlier this month Estate Agent Today readers were given the opportunity to have their concerns aired to owner and managing director of PropertyPortal.com, Andrew Goldthorpe.

Mr Goldthorpe lives in Witney, which conveniently is where David Cameron is the local MP. Mr Goldthorpe has put the comments and concerns to the Prime Minister’s office, in the hope that they may be the focus of a meeting between the two.

Unfortunately for Goldthorpe and those who put the comments to the prime minister, David Cameron dismissed appeals and comments to reconsider the recent action aimed at making buy to let investments less attractive.

The prime minister has issued this response:

“David has read your email and I spoke to him today.  

“He says “There is a problem that in many places families who can’t afford a home to buy are being squeezed out by people buying a home to let, or as a second property to stand empty for most of the year.

“That is why we have introduced a new rates of Stamp Duty that will be 3 per cent higher on the purchase of additional properties like buy-to-lets and second homes.

“This extra stamp duty raises almost a billion pounds by 2021 – and we’ll reinvest some of that money in local communities that are being priced out of home ownership.”

“He has also sent your email to the Financial Secretary of The Treasury for his comments on the highlighted part of your email [referring to the official consultation about the proposed stamp duty change] and thank you again for writing.”

In Goldthorpe’s response to the David Cameron’s comments, he believes his views were clear to the Prime Minister’s constituency office “in no uncertain terms” and expressed just how disappointed he was that this attempt to put the industry’s views across was dismissed.