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PRESS DIGEST - Financial Times - Aug 6

Tue Aug 5, 2008 11:06pm EDT

BROWN CONSIDERS A FREEZE ON STAMP DUTY

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The Government is considering plans to freeze stamp duty as part of a package of measures aimed at boosting the economy. Chancellor Alistair Darling on Tuesday did not rule out such changes as he pledged to announce "further measures in the autumn to help people with housing." Yet, he stressed that "we have not concluded what exactly we need to do." A postponement of the one percent stamp duty charged on properties of 125,000 pounds to 250,000 pounds for an unspecified period of time is regarded as the most probable change. One other element of the economic package is believed to be a new savings account, which would allow first-time buyers a greater cash tax-free allowance to save towards a deposit.

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