Letters to the Editor – 08/04 – Stamp duty reform, Crowdfunding rules, Best of Twitter
Stamp duty reform
[Re: Why it’s time to focus on the real cost of the housing crisis, yesterday]
The government should switch payment of stamp duty to when someone sells a property, not when they buy. First-time buyers could use the money towards a deposit, and those in the middle of a chain would not lose or win. The only losers would be those those at the end of a chain, who end up paying twice for stamp duty. However, they’d be more likely to be able to afford it, as they could pay the duty from equity. The government would continue to collect the same revenue, yet help first-time buyers onto the property ladder.
Richard Emms
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Crowdfunding rules
[Re: Our crowdfunding rules don’t limit innovation – they protect consumers, yesterday]
I’m an entrepreneur with an early stage startup, and while I’ve been very vocal about the FCA in the past, that was before these new regulations. In the run up to the announcement, the crowdfunding market had been crippled, caught in a state of limbo. This had a direct effect on our business growth. But now that we have clear guidance, things can move forward. I also agree that inexperienced investors must be protected, and I’m happy they now have a mechanism that enables them to engage with equity crowdfunding.
Name withheld
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BEST OF TWITTER
Does the World Bank think its GDP growth forecast for China is accurate enough to be cut by 0.1 per cent?
@notayesmansecon
India has 814m eligible voters. Nearly 400m of them are under 35 years old.
@ianbremmer
New violence in Ukraine shows Putin has no interest in a stable Ukraine. This struggle will be a long one.
@McFaul
Does it mean that Russia will protect the interests of the People’s Republic of Donetsk next?
@russian_market