Letters to the Editor – 18/02 – Scotland relations, Stamp duty, Best of Twitter
Scotland relations
[Osborne’s claims that Scotland couldn’t use the pound don’t stack up, Thursday]
Ruling out a currency zone after Scottish independence carries risks for both sides. The rest of the UK will unilaterally erect customs posts and force people to change money when they cross the border. This would damage trade and the free movement of people. And it will likely make anxious Scottish voters reluctant to vote Yes for fear of economic chaos. The trouble is, perceptions that the referendum will be held under duress would leave a reservoir of bitterness, which would do little for Westminster-Holyrood relations.
Billy Middleton
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Stamp duty
[Stamp duty is feeding the growing bubble in London’s house prices, yesterday]
Stamp duty tax is deterring more tentative sellers from putting their home on the market at a time when demand is rising at four times the rate of property supply. But we agree that abolishing stamp duty is impractical. A balanced solution is a stamp duty holiday on homes worth under £600,000. It would get the logjam moving by increasing the supply of property for sale, and will keep prices from spiralling. The government could make up the tax fall elsewhere, perhaps from the increasingly unpopular HS2 project.
Paul Smith, chief executive, Haart
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BEST OF TWITTER
Japan: fourth quarter growth at 0.3 per cent (1 per cent annualised) is a disappointment for Abenomics.
@notayesmansecon
Nick Clegg’s wooing of Labour while in coalition with the Tories is grossly duplicitous.
@truemagic68
UK productivity per capita still below pre-crisis peak. Now is not the time to increase the minimum wage.
@GABaines
Premium international air travel up 5.5 per cent on year ago. Positive signal for global growth and trade.
@asentance