A parliamentary e-petition set up ten months ago calling for the Stamp Duty holiday deadline to be extended that was initially rebuffed by the Government is rapidly climbing towards 100,000 signatures, having picked up 10,000 overnight alone.
Called ‘Extend the Stamp Duty Holiday for an additional 6 months after 31st March 2021’ it passed 10,000 with ease.
This milestone required the government to response and in December an official statement on the petition said the ‘government does not plan to extend the Stamp Duty relief’.
“SDLT is an important source of government revenue, raising several billion pounds each year to help pay for the essential services the Government provides,” it said.
That seemed to be it, but in recent weeks as the Stamp Duty holiday deadline has loomed nearer, more people have begun signing the petition which has been picking up thousands of signature every day and now stands at 88,000 signatures.
The original public petition was started by a buyer worried about their purchase of a new-build not completing in time, but it’s also been signed by thousands of agents too, and has been used as a lightning rod to galvanise industry action.
If it passes the 100,000, which seems likely, then MPs will be forced to debate the issue in Parliament.
Estate agents of all sizes have also begun backing a wider campaign called Stamp Out The Stamp Duty promoted by The Daily Telegraph but started last year by the libertarian Tax Payers’ Alliance to lobby the Chancellor on the issue,
Several large agencies have backed this including Winkworth, whose CEO Dominic Agace (picture) says: “It is an unnecessary tax. The purpose behind it was to put a lid on prices but the recent Stamp Duty holiday has proven that it is the wider economics which drive prices.
“Prices in London have not increased during this Stamp Duty holiday, rather it has enabled people to make the move into the home that’s right for them.”