SNP’s stamp duty changes must happen immediately

Changes to Land and Buildings Transaction Tax (LBTT) must happen now or risk doing “more harm than good”, it has been warned.

Finances secretary Kate Forbes responded to UK Government stamp duty amendments – designed to stimulate the housing market – by making her own adjustments today.

However, while Chancellor Rishi Sunak’s measures come into force immediately, the SNP hasn’t yet set a date.

That means anyone buying a property may wait for clarity in order to save themselves potentially thousands of pounds.

The Scottish Conservatives warned that would have a devastating impact not just on the housing market, but on trades who rely on people moving homes.

Scottish Conservative shadow housing minister Graham Simpson said:

"It's somewhat welcome that Kate Forbes has listened to our demand for action on LBTT.

"But the change has to come in immediately if it's to have any positive impact.

"Scheduling this move for months down the line will grind the housing market to a standstill and do more harm than good.

“A number of trades rely on people moving home to carry out work, improvements and renovations, and they need this decision to happen now.

"The SNP needs to spend less time inventing grievance and more time implementing changes which will benefit the lives of thousands of hardworking families."