Stamp duty’s cost to the economy

Stamp duty is having a negative effect on the economy, potentially costing it £9.28bn, according to the Adam Smith Institute. Stamp duty stops people from moving to areas where they want to live and means they have to spend longer commuting, the institute said. Stamp duty clearly does restrict the amount of moving that people do, according to Paul Johnson of the Institute for Fiscal Studies. This leads to a misallocation of houses. Click here for the full Daily Telegraph article