Homebuilder Calls For Stamp Duty To Be Devolved

Major homebuilder Tweed Homes has called for Stamp Duty policy to be devolved to the Scottish Parliament.

In a submission to the Rural Affairs and Environment Committee inquiry into rural housing, the Borders-based developer said: "The devolvement of Stamp Duty would allow the Scottish Government the opportunity to implement and monitor more appropriate and fairer levels of Stamp Duty. Affordable housing should not be burdened with the levy of stamp duty and an introductory threshold level could be set just above the cost of an affordable property.


"The threshold level would require to be monitored and reviewed annually to take account of housing market conditions. Scottish Ministers must continue to build a strong and compelling case to Westminster for devolved powers in the implementation."

Nationalist MSP Roseanne Cunningham welcomed Tweed's call: "This is a welcome contribution from Tweed Homes as a private sector developer and makes a very sensible suggestion. Scotland's distinct housing market and the different income and affordability levels in Scotland make the devolution of stamp duty a common sense proposal.

"The ability to set conditions for the Scottish market according to Scotland's needs rather than have stamp duty based on levels of income and affordability in England would allow the Scottish Government to adjust stamp duty to meet Scotland's concerns."

(GK/JM)