Is stamp duty damaging the economy?

Some economists say tax acts as a barrier to people buying homes

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Of the many taxes we all have to pay stamp duty is one of the most maligned. Many potential home movers begrudge having to pay thousands of pounds out of already-taxed income in order to secure a home.

According to the Organisation for Economic Co-operation and Development, the UK has the highest property taxes of any developed country. The average stamp duty bill nationwide is £1,600, but if you want to buy the average house in London you would have to pay £13,653 to the taxman.

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