Scourge of stamp duty kills hopes of so many - EXPRESS COMMENT

PUBLISHED: 17:52, Thu, Aug 1, 2019 | UPDATED: 18:00, Thu, Aug 1, 2019

homesStamp duty can add eye-watering costs to a property transaction (Image: fazon1/Getty Images)

Many older citizens would love to downsize, and millions of families long to move into somewhere bigger, but stamp duty can add eye-watering costs to a property transaction. This means that pensioners are stuck with the challenge of heating homes with many more bedrooms than they need. Meanwhile, parents in crowded accommodation find that the dream of a house in which each of their children has somewhere to do homework in peace and quiet remains out of reach.

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The hopes and ambitions of ordinary people who are by no means wealthy are being killed by this cruel charge.

If Prime Minister Boris Johnson and Chancellor Sajid Javid want to show they understand the pains and pressures felt by households nationwide, they will overhaul this iniquitous tax at the earliest opportunity.

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Cash is being taken out of pension pots at a record rate, raising fears that people may be left short in old age. The Government granted people greater access to their pension savings in 2015 and since then nearly £30billion has been cashed in.


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