Stamp Duty

Angela Rayner-era deputy and Greater Manchester Mayor Andy Burnham's ambition of delivering 1.5 million new homes is under threat, with industry commentary pointing to stamp duty costs acting as a burden on the supply side of the housing market. The argument is that higher transaction taxes discourage land trading and development, constraining housebuilding at a time when the government has made its homes target a central pledge.

Several Italian tax stories are drawing attention at once. Proposals in Vietnam would tax 'unused land' at seven times normal rates, while in Italy businesses face the 30 September deadline for paying stamp duty on electronic invoices, with not all VAT-registered firms paying on time. In Palermo, councillor candidate Aiello of Progetto Civico urged the city not to use the tourist tax to cover waste-collection costs, criticising what he calls taxing tourism to balance the budget.

Commentary is arguing that cutting stamp duty would make the housing crisis worse rather than easier. The claim is that stamp duty relief fuels extra demand in a market where supply is already short, pushing prices up further and doing little to help buyers overall. The argument feeds into a wider debate over whether tax cuts or new housebuilding are the right response to unaffordable housing.

Industry voices are arguing that government measures to support the housing market will fail unless Stamp Duty is reformed. The claim, made by UK estate agency publication The Negotiator, frames the transaction tax as a key barrier preventing other support policies from having any real effect on buyer activity and market movement.

A proposal to abolish stamp duty is being debated as a way to restart the UK's sluggish housing market. Analysts argue the transaction tax deters older homeowners from downsizing and blocks chains of moves, so removing it could free up supply and get sales flowing again.