A Smorgasbord Of Misery
This phrase of Kemi Badenoch’s in her reply to Rachel Reeve’s budget speech will do her no harm.
Conservatives Would Scrap Stamp Duty, Badenoch Announces
The title of this post, is the same as that of this article on the BBC.
This is the sub-heading.
The next Conservative government would abolish stamp duty on the purchase of main homes, Kemi Badenoch has said, in a surprise announcement at the end of her first conference speech as party leader.
These two introductory paragraphs add more detail.
Badenoch received a standing ovation from Tory activists in Manchester as she declared: “That is how we will help achieve the dream of home ownership for millions.”
She said scrapping stamp duty – a tax paid by home buyers in England and Northern Ireland – will “unlock a fairer and more aspirational society” and help people of all ages.
Note.
- I have a degree in Control Engineering at Liverpool University and graduated in 1968.
- Badenoch has a degree in Systems Engineering at Sussex University and graduated much recently.
Our degrees are both very mathematically-based and probably surprisingly similar.
My feeling as a Control Engineer, is that to selectively remove stamp duty could be a good idea, as you are affecting the derivatives rather than the rates.
Only time will tell, but some thorough mathematical modelling will probably show the validity of the idea.
It is unlikely that I will move, but given the state of the buses, there is a small chance that I might.
- My current house is probably worth about a million.
- If I bought a similarly-priced house, I would pay tax of £43,750.
- But, if I bought a house at double the price, I would pay tax of £153,750.
Given the progressive nature of the tax, I think I’ll be staying put, occupying a three-bedroom family house with a garage, all by myself.
If the tax is removed, I would be more likely to move into a house, that suited me better!
The Anonymous Widower 