[Re: Calls grow for tax cut policies, Monday]
The call from the Free Enterprise Group to scrap stamp duty on homes worth less than £500,000 highlights the growing frustration with Stamp Duty Land Tax (SDLT). Previously, it was simply an admin charge; now, it is a revenue-generating tax. This changed emphasis has a major bearing on the economic viability of a property purchase, impacting the still-fragile housing market. The proposal is certainly a step in the right direction, but more needs to be done to simplify property tax. Hopefully this will be the SDLT announcement expected in the chancellor’s Autumn Statement.
David Hannah, Cornerstone Tax
[Re: Don’t write off India: 2014 vote holds promise for the untapped Asian giant, yesterday]
The author touches on the differing demographic projections for India and China. But it is worth highlighting exactly how far the prospects for labour force growth diverge. Where China’s is forecast to fall significantly in coming decades (it’s labour force already contracted from 929m to 927m in 2012), India’s working-age population will rise by 125m according to the UN. China’s recent relaxation of the one-child policy is unlikely to change this broad trend – India will be the key locus for growth before too long.
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