Posts Tagged ‘Stamp Duty’

Angela Rayner is not too big to fail

03/09/2025, 10:27:36 PM

It always seems trite to focus on ‘the optics’ of a political scandal rather than the substance of one, but the swirling row about Angela Rayner’s complex property affairs looks utterly disastrous, both for her and the government of which she is nominally the second-in-charge.

After a week of headlines about her purchase of an £800,000 flat in fashionable Hove – hundreds of miles from her east Manchester parliamentary seat – the Deputy Prime Minister has been forced to concede she had not paid the full amount of stamp duty owed.

Rayner’s much-publicised living arrangements, dividing her time between her central London grace-and-favour flat, her domestic home in Ashton-under-Lyne and her new flat, is given added complexity as she and her ex-husband share caring arrangements for their children, including a disabled son.

Wise, perhaps, for people without disabled children to withhold judgment about people who have – and it is perfectly feasible that Angela Rayner has followed the expert advice she received, which led her to underpay the correct amount of stamp duty, to the letter.

It seems plausible that the government’s standards adviser, Sir Laurie Magnus, might see it that way. But that must be a hope rather than an expectation. For now, Angela Rayner is in big trouble.

She is not just a mother trying to juggle her domestic responsibilities; she is the deputy prime minister in a Labour government. One that presides over a divided, moribund country having won as little as 34% of the popular vote in last year’s general election.

To state the obvious; two-thirds of voters did not back Labour, with the government bequeathed the worst in-tray since Clement Attlee inherited the smoking ruins of post-war Britain.

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Lifting the stamp duty threshold would help Labour to be the party of aspiration

04/03/2014, 02:32:35 PM

by Callum Anderson

A couple of weeks ago, the Office for National Statistics (ONS) released its latest data on UK property prices. For anyone, particularly young people, who aspire to getting themselves onto the property ladder, the data did not make good reading. It showed that house prices in December were 5.7 per cent higher across the UK compared with a year earlier, predominately driven by a 12.3 per cent increase in London.

Indeed, the average property in the UK will now set you back a cool £250,000. For people looking to settle in London or South East England (which as a result of the unbalanced UK economy and jobs market is a substantial proportion), this rises to £450,000 and £306,000 respectively.

But what would that even buy you these days?

Save for the rare gem that quite probably requires a lot of work, a £300,000 property (be it a house or a flat) in London or South East England is likely to be only a fairly modest 3-bedroom semi of the type to which many young families will aspire. Yet, the stamp duty bill on this purchase will be £9000, equal to several months’ entire after-tax pay for average earners.

This has resulted in the government pocketing £16.6 billion in stamp duty tax since 2010.

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