Catch-22 on stamp duty

Kidd, Andrew
March 2005
Cabinet Maker;3/25/2005, Issue 5431, p10
Trade Publication
The article discusses the impact of budget proposed in the British Parliament on furniture industry and consumers of Great Britain. The increase in stamp duty allowances and money for pensions would certainly affect consumers' purchasing capacity and industry. Buying a home for £119,999 rather than £120,001 will save money for more than a third of home-buyers. But the reduction may also lead to a wider benefit for furniture retailers--keeping the housing market going. The number of first time buyers has fallen in recent years. If there are fewer first time buyers, the effects knock on upwards with no one to buy the second home because they cannot sell their first-time purchase-and if these cannot be sold the entire housing chain grinds to a halt. INSET: Caught in the middle.


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