Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the effect of the stamp duty levy on investment in new homes to rent out.

The Government introduced the higher rates of stamp duty on additional properties to support home ownership and first-time buyers. It is right that people should be free to purchase a second home or invest in a buy-to-let property, but the Government is aware that this can impact on other people’s ability to get on to the property ladder.

The latest estimate for this measure’s receipts for 2016-17 is £1.6 billion, compared to an initial forecast of £0.7 billion.