DURKAN BACKS CAMPAIGN TO EXTEND STAMP DUTY HOLIDAY

Foyle MP Mark Durkan has joined a group of MPs at Westminster who are calling on the British government to extend the stamp duty holiday beyond December 31.

Properties under £175,000 are currently exempt from the tax but the threshold is due to return to the original £125,000 limit in the New Year.

Mr Durkan has signed an Early Day Motion urging the British government to keep the £175,000 threshold to stimulate the local housing market and save jobs in the local industry.

The Foyle MP said:

“The current exemption from stamp duty has had a helpful impact in helping stimulate the housing market.

“Activity in the market remains fairly low and this is not the time to remove relief for homeowners and buyers.

“If the stamp duty exemption is not extended it could cause a great deal of damage to our local housing market.

“In the current economic climate, government should be continuing to help families and first-time buyers to purchase property.

“I am therefore calling on the government to extend the stamp duty exemption in order to further stimulate our local housing market and help grow the economy in 2010.”

ENDS

08-12-09