SCC comment on Scottish Government measures to support the housing market
Commenting on the Scottish Government announcing today (9th July) that the Land and Buildings Transaction Tax threshold will be increased to £250,000, Dr Liz Cameron, Chief Executive of the Scottish Chambers of Commerce said:
“We welcome the Finance Secretary Kate Forbes’ announcement that the threshold for the application of LBTT will rise to £250,000 which means that eight out of 10 transactions won’t be charged.
“This will not only boost the housing market it will also support the construction industry, both of which are essential to addressing Scotland’s chronic housing shortage.
“We ask that this should be urgently fast tracked to prevent distortion in the marketplace.”