Why Sunak should put an end to England's stamp duty holiday romance | David Mitchell

The tax break on house purchases saw prices rise by 8.5% – but is it really the best way to address the housing shortage?

Reports last week that the stamp duty holiday in England and Northern Ireland is to be extended were met with unsurprisingly little consternation, surprisingly. I mean that I wasn’t surprised by the lack of consternation which, on reflection, was surprising. Can you be surprised on reflection, or just by a reflection because you haven’t had a haircut since October? I think you can. It was a gradual, creeping surprise that stole through me gingerly, like a presentiment of diarrhoea.

People don’t like stamp duty, because it makes the surreal sums involved in procuring shelter significantly more eye-watering. Still, isn’t it a bit nuts, when you think about it, extending the stamp duty holiday? The country isn’t made of money. Except it sort of is made of money because the property here is worth so much. Particularly in the south-east, but in Britain generally, houses cost too much. And, thanks to the stamp duty holiday, UK prices rose last year by 8.5%. That’s while most of the economy was somewhere on a scale from lightly to totally screwed.

Continue reading...

Coronavirus | The Guardian

Comments

Post a Comment

Popular posts from this blog

Vaccine hesitant New Yorkers consider leaving the city as mandates take effect

For some in the Bronx, the borough hit hardest by the coronavirus, mistrust may win out over jobs and even home Deysia Padilla’s family thought she was at work. Instead, she spent last Thursday afternoon unloading a mound of orange and pink baby socks in a sunny South Bronx laundromat – one-by one, in all their three-inch glory. She had 48 hours to consider an impossible choice: either get vaccinated or lose her job. Padilla is one of thousands of unvaccinated New Yorkers affected by Mayor Bill de Blasio’s ultimatum last week. Not only do city employees face the reality of losing their jobs, but without a shot, they’ll even forgo unemployment payments . Some unvaccinated Bronx natives would rather pursue a life outside New York City than be forced to take the vaccine. Continue reading... Coronavirus | The Guardian
Read more

Brentford manager calls for weekend shutdown in Premier League Covid fight

Thomas Frank also wants Carabao Cup ties postponed ‘We can do a lot by closing down training grounds,’ he says Brentford’s manager, Thomas Frank, has called for this weekend’s Premier League fixtures to be postponed to allow clubs to deal with coronavirus outbreaks. Frank saw his side’s match against Manchester United on Tuesday called off as the country deals with the Omicron variant, and Burnley’s game at home to Watford on Wednesday became the third Premier League fixture in a week to be postponed . Continue reading... Coronavirus | The Guardian
Read more

Coronavirus live news: AstraZeneca reports vaccine shortfall to EU; Sydney hotel quarantine worker tests positive

US administers 100m vaccine doses; Jordan patients die after hospital oxygen shortfall; Italy partial lockdown starts on Monday Australian PM and chief medical officer get second dose of vaccine Jordan health minister steps down after hospital oxygen failure deaths Lockdown ending could trigger anxiety for many, say UK charities Coronavirus – latest updates See all our coronavirus coverage 1.35am GMT Hong Kong is facing its fifth wave of infection, with a growing cluster centred around a high-end gym logging 99 cases so far . The gym is popular with the city’s central business district workers, local media reported, and several major banks and law firms are among dozens of businesses given compulsory testing orders. Authorities have also locked down four residential buildings in the Mid-levels, in another ambush-style operation to ensures all residents are tested overnight before being allowed to move freely again. 1.20am GMT Staying in Australia for a moment, there’s som
Read more