Boris Johnsons magazine says Stamp Duty …

The right-wing political magazine that Boris Johnson used to publish called for reducing stamp duties.

The Spectator says next week's budget will have to prepare Johnson's new majority government to overcome its current £ 40 billion deficit, so warns that tax cuts will be scarce.

But he then adds: "If a tax needs to be reduced, it is likely to be stamp duty on property purchases, at least those made by owner occupiers at the lower end of the market. No tax has been so diverted in the past two decades. "

The author of the article – the famous political and real estate commentator Ross Clark – says that the recent wave of increases in the SDLT means that the buyer of a million-dollar property pounds – which would have paid £ 10,000 in stamp duty in 2000 – will pay today no less than £ 43,750.

And if the property is a second home or for investment, the bill goes up to £ 73,750.

"No wonder fewer of us want to move or invest in real estate," he said, adding: "The number of transactions in the UK has never recovered from the 2008 crisis / 09. From 1.7 million sales in 2006/07, sales fell to 792,000 two years later and recovered, but only to 1.19 m in 2018/19. "

Clark says this tax is a great example of the Laffer curve, which suggests that higher taxes don't always generate more income. Stamp duty revenue increased from £ 12.9 billion in 2017/18 to £ 11.9 billion in 2018/19.

"Few people will be sorry, but one of the big victims of stamp duty has been the profession of real estate agent. Selling homes has long been the natural choice of a yuppie looking for a quick fortune, "says Clark, who cites both the Countrywide / LSL merger talks and the long-term increase and decrease of Purplebricks as evidence of the industry's problems.

"While agents have long accused of pushing up house prices by encouraging exhaust, etc., they have little interest in pushing prices up a few percent. What really makes or breaks them is the volume of sales. If people don't move, they won't make any money, "he said.

Clark says cutting stamp duty would be welcome help for industry – but adds it will take more than that to get back to what he calls the heyday from the real estate agency.

<! –

->

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos