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Sajid Javid quashes stamp duty speculation

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Britain's Chancellor of the Exchequer Sajid Javid leaves 11 Downing Street in London on August 13, 2019 after a meeting with US National Security Advisor John Bolton. - US National Security Advisor John Bolton said Monday that Washington wanted "to move very quickly" on a trade deal with Britain after it leaves the EU, and that the White House would wait until after Brexit to address various security concerns. (Photo by Tolga AKMEN / AFP) (Photo credit should read TOLGA AKMEN/AFP/Getty Images)

Chancellor Sajid Javid has moved to quash speculation he may be about to shift stamp duty from buyers to sellers.

During an interview with The Times, Javid had appeared to float the idea ahead of his first Budget.

When asked about changing who pays stamp duty to save first-time buyers paying any tax, he said: “I’m looking at various options. I’m a low-tax guy. I want to see simpler taxes.”

But the shift would disporportionately affect older people who may wish to downsize to smaller homes – angering the Conservative party’s core voters in the run up to a General Election.

Two days after the article appeared, Javid tweeted that he “never said… I was planning to put it on sellers, and I wouldn’t support that.

“I know from @mhclg that we need bold measures on housing – but this isn’t one of them.”

Main image: Getty