Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 14 January to Question 135918 on Stamp Duty Land Tax: Coronavirus, if he will extend the stamp duty holiday for the purchase of new property due to the covid-19 outbreak.

The temporary increase in the Stamp Duty Land Tax nil rate band was designed to create immediate momentum within the property market, where property transactions fell by as much as 50 per cent during the COVID-19 lockdown in March.

The Government is closely monitoring delays in the building process. As the relief was designed to provide an immediate stimulus to the property market, the Government does not plan to extend this relief.