Tory MP Mark Field is not a happy bunny about Osborne’s Autumn Statement. Writing to members of his association, the MP for the Cities of London and Westminster has blasted the Chancellor’s ‘unfortunate’ move over stamp duty — despite claiming to be sympathetic to the ‘politics’ of ‘soaking the remaining rich’.
Mr S thought the full rant was worth reproducing here:
‘Those buying a £2 million home will now have to find £153,750 in cold hard cash to hand over to the Treasury, up from £100,000. Meanwhile, those purchasing a property valued at £5 million will have to pay £513,750 in duty, coincidentally precisely the same amount as the cost of the average London property. These amounts need to be paid upfront to the Exchequer, direct from income that has already been taxed. These arecolossal sums. I do not anticipate many tears being shed across the country for this group of house purchasers.
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