Wales News Online

Local & National News for Wales

Plaid Cymru responds positively to increasing Land Transaction Tax threshold

PLAID Cymru has responded positively to the Welsh Government’s announcement to raise the Land Transaction Tax threshold:

The Shadow Minister for Finance, Rhun ap Iorwerth MS said:

“I am pleased that the Welsh Government decided not to cut and paste England’s changes to Stamp Duty with its revision of Wales’ Land Transaction Tax. I had also warned against increasing property purchase tax thresholds to £500,000 for all buyers, as is the case in England now. Such an increase disproportionately benefits the richest, as well as second homeowners, and buy to let buyers. It shows the value of being able to tailor taxation policy to Wales’ needs and being able to set different priorities.”

Delyth Jewell MS, Shadow Minister for Public Service Transformation, added:

“Changes to the land transaction tax should always focus on those who need support in getting on the housing ladder. With so many finding it difficult in making that a reality we welcome the decision not to extend the measures to second home ownership and buy to let properties.

“This announcement, however, does not address the housing crisis which Labour has presided over, and a Plaid Cymru government would work to ensure that 50% of new building developments should be social housing.”


%d bloggers like this: