Camden Labour backs George Osborne’s stamp duty changes
PUBLISHED: 16:05 18 December 2014 | UPDATED: 16:05 18 December 2014
Camden’s Labour administration has backed George Osborne’s stamp duty reforms, introduced as part of the government’s Autumn Statement.
Cllr Theo Blackwell, cabinet member for finance and technology policy, said the council supported the Conservative chancellor’s changes announced earlier this month.
The old stamp duty system, where the amount owed jumped at certain price levels, has been replaced by a graduated rate, working in a similar way to income tax.
Cllr Blackwell said: “We support the changes to stamp duty in the Autumn Statement, but continue to argue for stamp duty to be included within a package of devolution to London government as a fiscally-neutral measure set out in the cross-party London Finance Commission.”
In November, Cllr Blackwell called on shadow chancellor Ed Balls to show some “bravery” by pushing for radical council tax reform instead of Labour’s controversial mansion tax.
He said it would be a “better bet” for Mr Balls to reform council tax banding rather than introducing a tax on all £2million-plus homes should Labour come to power.