Topic analysis

Scrap stamp duty and council tax to fix London housing crisis, thinktank says

The Centre for London thinktank has proposed scrapping stamp duty and council tax and replacing them with an annual proportional property tax (PPT) to address London's severe housing crisis. The reform would encourage downsizing, reduce housing inequality, fund 106,000 social and affordable homes over a decade, and ease financial burdens on renters and first-time buyers to help them save for deposits.