Stamp Duty Land Tax (Reduction) Bill — Clause 1 — Reduction of SDLT on acquisition of residential property — 10 Jan 2023 at 16:15

“(except in relation to additional dwellings)”.

“for the Government, the property industry, and homebuyers”,

“any wider costs and impacts of the change…on the housing market”.

“planning to ease the impact on tax revenues, home purchases and the housing market of the reduction in stamp duty…coming to an abrupt end on 31 March 2025.”

“I will sunset the measure”.-[Official Report, 17 November 2022; Vol. 722, c. 846.]

“A provision in a Bill that gives it an expiry date once it is passed into law. Sunset clauses are included in legislation when it is felt that Parliament should have the chance to decide on its merits again after a fixed period.”

“The Chancellor of the Exchequer must, three months before expiry of the temporary relief period, publish an assessment of the impacts of the temporary relief provided by this Act.”

“as soon as we can, the Government will reduce the burden of taxation on working people.”

“This measure is part of government’s commitment to support homeownership and promote mobility in the housing market, in turn supporting economic growth. Increased property transactions also add to residential investment and spending on durable goods.”

“take 200,000 homebuyers, including 60,000 first-time buyers, out of SDLT entirely.”

“(except in relation to additional dwellings)”.-(Abena Oppong-Asare.)

Debate in Parliament |