The Government is reported to be considering a tax break on stamp duty in the 2024 Autumn Statement. According to reports, consideration is being given to raising the starting price at which stamp duty kicks in from £250,000 to £300,000. This is thought to be part of a pre-election tax “giveaway” to encourage voters to stick with the Conservatives. Stamp duty is a strange tax. It is voluntary (you are not compelled to buy a home – you could rent instead); it is generally levied at the very moment when the person who pays it has the least money in their entire lives; its taxpayers are much younger than average (the young move more than the elderly); and it has no offsets or allowances. You pay it – it’s done – and you never get the money back, whatever you do in the future. The largest three sources of tax revenue for the Government are (in order) income tax (£250bn), National Insurance contributions (£179bn) and VAT (£162bn). Taxpayers may not like these taxes, but they understand that the Government must supply itself with a core base of revenue that takes a slice out of the heart of the...