Date Published 24 July 2008
It was announced this week that the government are considering suspensions to the existing stamp duty levels in order to help first time buyers and those at the lower end of the property scale through the credit crisis.
An official government spokesman stated that talks were being held to find a way top relieve the burden felt by the current financial state as a whole, and to boost the property market. Currently all homes above £125,000 are required to pay Stamp Duty, but in a move similar to that which the Conservatives took in 1992 when they raised the threshold to £250,000. The official told the Daily Mail that the government is being "exercised about the housing market and they are looking at a lot of different measures."