Daily Archives: November 11, 2008

Jim Pickard

An extension of the stamp duty cut will probably be in the pre-budget report. After all it would be cheap: figures today showed that the policy has made no difference.

The stamp duty one-year holiday was announced by government ministers with great fanfare two months ago. Ministers raised the minimum threshold at which payment is due to properties selling for more than £175,000, up from the previous threshold of £125,000.

It’s changed nothing – judging by data released today by the Council of Mortgage Lenders. Read more

Jim Pickard

Chris Giles* points out this morning that Gordon Brown – just after his July 1997 Budget – highlighted (‘with disdain’) how much easier the Tories had found it to cut taxes and increase public spending than take tough decisions during the last downturn. This is pertinent given how obviously the PM is preparing the ground for a “fiscal package” in the PBR.

Here is the document in question.  It reads like a warning to old Gordon from young Gordon: Read more