Tax and Fiscal Policy

Replacing stamp duty with annual proportional levy a mixed bag


In the Media

Dr Richard Wellings quoted in The Telegraph

In the Media

Mark Littlewood quoted in City AM

Prof. Philip Booth quoted in The Telegraph

A report published by think tank Bright Blue has called for a new annual proportional property tax (APPT) to replace stamp duty.

Commenting on the policy proposal in The Telegraph, IEA Senior Academic Fellow Prof. Philip Booth argued there was positives and shortcomings to the policy.
Philip said: “Requiring owners and not tenants to pay breaks the link between the local government tax base and the voters. It will create a dangerously narrow tax base which will be exploited in the same way that domestic rates were exploited by left-wing councils in the 1980s“.

He also warned “there is a huge danger that the tax becomes a milch cow with complex exemptions and surcharges for groups favoured or disfavoured by politicians“.

Read the full article here.