SNP plans for a fairer tax to replace stamp duty in Scotland have been hailed by leading business and housing experts.
Finance Secretary John Swinney announced a consultation on a more progressive Land and Building Transaction Tax that will be closely related to an individual’s ability to pay.
The move has been welcomed by the National Association of Estate Agents’ Alison Hatrick, the Scottish Property Federation’s David Melhuish, CBI Scotland’s director Iain McMillan and the Law Society of Scotland.
Falkirk East SNP MSP Angus MacDonald said:
“Business and housing experts across the country have welcomed the SNP Government’s plans for a fairer, more progressive tax to replace stamp duty.
“CBI Scotland, the National Association of Estate Agents and Scottish Property Federation have all made positive comments about the Land and Building Transaction Tax.
“The NAEA has even said this will help first time buyers and in particular young couples trying to buy two or three-bedroom homes.
“This tax is fairer as it will be more closely related to an individual’s ability to pay.
“These positive comments simply demonstrate that plans made in Scotland can be better for Scotland and the strength of feeling that we need full fiscal powers is growing day by day.
“The SNP Government is making positive use of the devolution of these taxation powers in the Scotland Act 2012, so just imagine what we could achieve if all the taxes collected in Scotland were being used to the benefit of this country.
“With the anti-independence parties refusing to offer anything other than outright opposition to independence, the only way to get these powers is by voting Yes in the referendum.”