Looks like the Chancellor, Alistair Darling (thanks to the character Captain Darling, I always think of Blackadder when I hear his name) is in a bit of a mess over possible changes to stamp duty.
It has been reported that Darling is considering proposals that would allow buyers to postpone paying stamp duty on their house purchases – a suggestion which has led to confusion amongst buyers as to whether they should wait for the new rules to come in before buying their property. It’s meant that there could be further stagnation in an already lacklustre housing market.
The Chancellor is left in an awkward situation – although the government suggest the report is untrue, it would appear to be a policy that they’re considering, but they may not have had chance to work out how much it will cost, or how it will be paid for.
It’s also difficult for Darling or the government to say the stories are untrue, as to back-track at a later day could be political suicide – something neither Darling nor the government could do with right now.
So the upshot is further confusion in the housing market – buyers unwilling to commit until they know the full details, sellers unable to sell, and estate agents left in the middle trying to pick up the pieces where they can.
