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Budget implementations.

MK Shrimper

Striker
Joined
Aug 6, 2005
Messages
52,643
Financial types, a quick question.

If the Chancellor raises the stamp duty threshold this afternoon, is it an immediate change?
 
Financial types, a quick question.

If the Chancellor raises the stamp duty threshold this afternoon, is it an immediate change?

I don't think it's an immediate change unlike excise duties. I think this budget in many ways is a waste of time as I doubt the majority of the measures will come into force, and whoever forms the new government on 7th May will have a budget as soon as the new Parliament is in session.
 
in terms of budget measures., the way i seem to find it works is thus..

anything that increases the cost of living happens the next day

anything that decreases the cost of living, or is of any benefit is planned for 2011

On top of this, i have seen that Cider is to be increased by 10%, but all other alcohosl by only 2%... t*ssers! i can understand this is because kids might opt for this, but if you want to tackle teen issues, put a tax on knives and mobile phones with speakers!
 
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I would increase stamp duty for anyone buying a second,third,etc. house.

I agree , plus follow the Council's model in Cornwall that is trying to restrict holiday homes being bought up and left unoccupied for up to 10 months in a year . Which then restricts new house buyers from getting on the ladder.
 
So will the abolition of stamp duty for first time buyers up to 250k only come into force if Labour stay in government or up until they are in government?!

This may be in my favour come next year so I want to know.
 
So will the abolition of stamp duty for first time buyers up to 250k only come into force if Labour stay in government or up until they are in government?!

This may be in my favour come next year so I want to know.

From what I gather, they've effectively stolen a Tory proposal, so should this remain intact regardless of who wins the election.
 
The chances are it would stay if the Conservatives win the election. Labour's claim that it is being paid for by a 5% tax on house purchases over £1 million is disingenuous though as that tax increase doesn't come in until next year, whereas the stamp duty cut for first time buyers is happening now!
 
Basically he could have said anything he wanted as it is irrelevant as there will be another budget after the May election. Despite being an estimated 590 billion in the red there seems to be very little said about clawing in that back, call me cynical but strange that 2 months from an election.

250,000 stamp duty was first suggested by the Tories in 2007 so it is very likely they will keep to the same policy. As always the devil is in the detail and more will become clear over the next few days, and my feeling is the figure will just not add up.
 
Such a load of spin all this 'spreading out the duty increase'

Thats rubbish

at the last budget, they said there would be a rise in September (which there was), and then a rise of 1ppl each April for the next three years.

Then, somehow, this has been re-translated that it was going to be 3ppl this April, which they are now acting as hero's that they have spread it out.

Of course, also which has gone mostly under the radar (altho well done to the Sun for reporting it) is the duty insentive on Biofuels is to be axed, which will mean a further increase of roughly 1.5ppl, although this will affect Petrol more than Diesel (if you want me to explain i will)
 
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