A 6 Month Stamp Duty Holiday Extension Is Proposed
Monday the 1st of February is set for a parliamentary debate, online, to discuss an extension to the current Stamp Duty Holiday; something which the property industry welcomes. The Petitions Committee announced that the virtual debate will take place, following a large scale public e-petition.
Originally, the debate had been delayed following an announcement by Jacob Rees-Mogg that the chamber hosting e-petition debates (with over 100,000 signatures), was to close for the foreseeable future, due to Covid. Moving the debate online has addressed this issue, allowing the parliamentary debate to go ahead.
The online petition, which currently has over 120,000 signatures is asking for a 6 month extension on the Stamp Duty holiday, which is currently set to expire on the 31st of March. The petition states; ‘Extending the Stamp Duty Holiday for an additional 6 months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise.
This will help to stabilise the housing market’. As with the current Stamp Duty holiday, the proposed extension applies to properties under £500,000
The Online Debated Is Set For 1st February, 4.30pm
The online debate session will be lead by Elliot Colburn, a member of the Petitions Committee, with Jesse Norman MP, Financial Secretary to the Treasury responding.
An extension to the Stamp Duty holiday would be welcomed by most estate agents, including Open House Wigan, which would allow buyers to save on buying their next property. So far, the measures in place have kept the property market buoyant.