The official version of this document can be found via the PDF button.
The below content has been automatically generated from the original PDF and some formatting may have been lost, therefore it should not be relied upon to extract citations or propose amendments.
WQ.193/2025
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES
BY DEPUTY M.B. ANDREWS OF ST HELIER NORTH
QUESTION SUBMITTED ON TUESDAY 6th MAY 2025
ANSWER TO BE TABLED ON WEDNESDAY 14th MAY 2025
Question
"Will the Minister advise whether she is considering a reduction in stamp duty, whilst maintaining a 3% higher rate for transactions other than a main residence, in order to stimulate land and property transactions; if so, how soon will such a proposal be brought forward and, if not, why not?"
Answer
There are no plans to make any changes to the stamp duty rates, either on a temporary or a permanent basis.
The evidence shows that stamp duty holidays do not stimulate property transactions. Instead, they bring forward the timing of transactions, often at increased prices, which can lead to a fall in transaction numbers at the end of the holiday. Further comments on this subject are included in the Council of Ministers' comments on the twenty-fifth amendment to the 2025 Budget.
A permanent cut in stamp duty rates would reduce revenue, so may need to be funded by increasing other taxes or charges.