Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has any plans to reduce stamp duty rates.

The Government keeps all taxes under review as part of the usual tax policy making process. Tax changes, including changes to Stamp Duty Land Tax (SDLT), are generally announced at the Autumn Budget, where decisions are taken in the round.

SDLT is an important source of government revenue, raising several billion pounds each year to help pay the essential public services. Therefore, any changes to SDLT would have to be carefully considered given the potential effect on public finances.

Stamp Duty Land Tax (SDLT) was devolved to Scotland by the Scotland Act 2012 and subsequently replaced with the Land and Buildings Transaction Tax in April 2015.