The Stamp Duty Snare: A Barrier to Affordable Housing The British government's ambitious target of building 300,000 new homes per year has been met with skepticism by industry insiders, including Berkeley Group, a FTSE 250 housebuilder.
The company argues that stamp duty reform is essential to meet housing targets and address the affordability crisis. Introduced in 2003 at an unsustainable interest rate of 0.
25%, stamp duty was meant to raise revenue for the Treasury. However, with interest rates now back to normal levels, the tax has become a significant barrier to homeownership.