Letters to the Editor - 20/11 - Stamp duty, India rising, Best of Twitter

Stamp duty

[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

………………..

India rising

[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.

Melanie Davies

………………..

BEST OF TWITTER

Almost 20 per cent of Greeks have no bank deposits to their name.
@minefornothing

European Central Bank vice president says QE is possible – would mean a treaty change.
@RANsquawk

Global race? Senegal, Nigeria, Romania, Bulgaria and Moldova have faster internet speeds than UK.
@LordAshcroft

Citi: Investors have dumped equivalent of 755 tonnes of gold held in exchange-traded funds this year.
@ReformedBroker