'Exceptionally damaging' stamp duty rise for £2m homes may not work, Osborne warned | Mail Online

'Exceptionally damaging' stamp duty rise for £2m homes may not work, Osborne warned | Mail Online

Soak-the-rich measures in the Budget were condemned as ‘exceptionally badly designed’ yesterday by a leading economic watchdog.
The Institute for Fiscal Studies said plans to raise stamp duty on properties worth £2million would stop people moving house.
Experts at the think-tank said the increase – up to 7 per cent from the current 5 per cent – would add a minimum of £40,000 on to the cost of buying such a property, and would encourage more people to avoid tax.