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Ban stamp duty, broker says
The secured loans market could be boosted considerably by suspending stamp duty entirely, according to John Charcol.
In new analysis released today, the broker suggested that the move would cost the government just £2 billion a year in lost revenues.
This money would, John Charcol claimed, be paid back over the long term through the general boost to the property market the move would provide.
Alistair Darling raised the tax-free threshold for homes from £125,000 to £175,000 last year.
Ray Boulger, senior technical manager at John Charcol, said: "The housing market is a critical component of the UK economy, with its health going far beyond just affecting the employment prospects of those who work in the sector."
He added: "Because such a high proportion of bank and building society lending is secured against property, any improvement in the housing market, even just stabilisation, would have a marked effect on bank and building society balance sheets."