ONP renews call for SDLT deadline review in light of spending review

Commenting on the Chancellor’s spending review, O’Neill Patient CEO Andy Scaife says: “The Chancellor has focussed on the investment to come and potential for the UK to get back to ‘business as usual’ in a post-pandemic world.

“But with the economy predicted to contract by more than 11 per cent this year, and unemployment to peak at 2.6million next year, that is going to mean more people staying in rented accommodation and put their home-buying aspirations on hold.

“Investment in a new housing fund of more than £7bn will be welcome but the biggest impact on the market is going to come from the end of the SDLT holiday at the end of March.

“The Chancellor needs to address this as a matter of urgency and we renew the call for reviewing the deadline if, as he said, he wants to help people to thrive in their communities and to live in the homes they want.”

Published: 26 November 2020