Ed Balls Calls for Stamp Duty Holiday

Ed Balls called for a stamp duty holiday for first time buyers during his speech at the Labour party conference in Manchester today. He also called for 100,000 new, affordable homes to kick-start the construction industry.

"Let's commit that money from the 4G sale and build over the next two years: 100,000 new homes - affordable homes to rent and to buy - creating hundreds of thousands of jobs and getting the construction industry moving again.

"Add to that a stamp duty holiday for first-time buyers, and we can deliver real help for people aspiring to get on the property ladder."

www.BBC.co.uk

Considering that stamp duty is up to 3% of the property value on top of the property price itself, it would certainly help first time buyers who are struggling to not only find money for deposits, but the extra thousands of pounds for fees and expenses as well. A stamp duty holiday would be very welcome indeed.