Stamp Duty Scrapped?

With the prime minister expected to announce details of how to kick start the economy, reports suggest that suspending stamp duty could be key to his plans, according to the Sun newspaper.

Stamp duty could be suspended temporarily in a package designed to boost the faltering economy.

Stamp duty is paid at 1% on homes bought for £125,001 – £250,000, 3% on homes bought for £250,001 – £500,000, and 4% on homes bought for over £500,000.