FISCUS MORTGAGES - INFORMATION AND ADVICE

Stamp Duty Campaign Hits 20,000 Mark

30-Nov-2004

P>Raise the Roof Campaign reaches 20,000 on petition to present to Chancellor

On Thursday 2nd December, the Chancellor of the Exchequer, Gordon Brown, will present his pre-budget statement to Parliament.

At the same time, Mr Brown will be aware that a national campaign is underway to persuade the Chancellor to raise the tax threshold on Stamp Duty from £60,000 to £150,000 and thereby help first-time buyers and people on low incomes get onto the housing ladder.

Since May 2004, over 20,000 people throughout the UK have signed 'Raise the Roof' petition forms. Only last week, the campaign, originated by the West Bromwich Building Society, received a substantial boost thanks to tremendous efforts by the Cambridge, Furness, and Monmouthshire Building Societies who produced over 3,000 signatures between them.

Support for the campaign has come from all quarters including:

• 44 Members of Parliament who signed an Early Day Motion by Paul Flynn MP
• Building Societies across the UK
• E-mails from members of the public across the UK
• National Association of Estate Agents
• Royal Institute of Chartered Surveyors including Connells
• Black Country Chamber of Commerce
• The national media
• Mortgage Watchdog

Andrew Messenger, Chief Executive, West Bromwich Building Society, said:" There is no doubt that Stamp Duty adds yet another unnecessary financial burden to first-time buyers and people on low incomes."

He added: "I sincerely hope that when Gordon Brown stands up and gives his pre-budget statement, he will recognise the groundswell of support our 'Raise the Roof 'campaign has already received from the general public. To raise the threshold of Stamp Duty from £60,000 to £150,000 in line with inflation would be a tremendous Christmas present for everyone trying to get on the housing ladder."