Stamp duty cut ‘not a way to spend public money wisely’

Similarly, industry experts are split on potential reforms of stamp duty more widely. 

Some argue that abolishing the tax would stimulate what is an “already overheated” market, while others say long-term reform has the potential to free up housing stock. 

Stamp duty has been a lucrative method of tax collection in recent years, with government receipts increasing in line with house prices. 

Last year, HM Revenue & Customs collected an extra £4.2bn in stamp duty, an increase of 69 per cent. 

jane.matthews@ft.com