Stamp Duty Increase for Wealthy Landlords?

The Joseph Rowntree Foundation has called for the stamp duty surcharge to be doubled in the upcoming budget to discourage wealthy landlords from buying properties and denying would-be buyers the chance to get on the property ladder. 

This follows a drop off in house building, stalled transactions and cash-rich investors buying up properties amid rising interest rates and high inflation.

The foundation also suggests tax breaks enjoyed on short-term lets should be scrapped, while they urge the Government to replace council tax and stamp duty with an annual property levy. 

This is done in order to create a fairer, more secure and affordable housing system with prices not based on rampant house price growth.