Berkeley calls for urgent stamp duty reform in Budget

Berkeley Group has called for urgent stamp duty reform in the Budget to kick-start housing transactions and unlock stalled development.
The house builder is urging Government to cap stamp duty at 1% for first-time buyers and downsizers and scrap the 5% surcharge on investors.
Berkeley said the present stamp duty land tax regime had become a “binding constraint” on the housing market since interest rates returned to more normal levels.It argues that reduced transaction levels are now