Fine column, Shaun. If stamp duty revenues for just 11 months - TopicsExpress

Fine column, Shaun. If stamp duty revenues for just 11 months ending in February were £3.1 billion, it seems that the Retail Price Index is really underestimating the impact of rising housing prices quite badly by treating stamp duty as out of scope. The house price increases would raise stamp duty costs to homebuyers in two ways, first, through the increases in house prices themselves and second through the increase in effective stamp duty rates. Perhaps in 1995, the last time any important changes were made in how homeownership costs were measured in the RPI, stamp duty was considered too minor to bother with. Whatever the case, it is too important to ignore now.

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