The Chancellor of the Exchequer has opened very interesting can of worms. He is said to be contemplating a switch which would see sellers paying stamp duty on property sales. Is this a good move?
In every investment market it is the buyer who pays the stamp duty. Should we not be asking ourselves why we pay stamp duty rather than just taking it as gospel that we should be?
I think the system does needs shaken up but are we not missing the point here - the government needs to reduce stamp duty instead of using it like a cash cow in times of trouble.