Professor Ben Jacobsen says stamp duty replacement bad for Scottish housing market

A University of Edinburgh Business School academic has warned the Scottish Government’s replacement for stamp duty could be seriously detrimental to Scotland’s housing market.

Speaking at The Scotsman’s latest conference this week, Professor Ben Jacobsen said the new land and buildings transaction tax (LBTT) would not only hit wealthier homeowners, but would have knock-on implications for first time buyers.

The business school’s chair in financial markets said:

“Taxes like this make the housing market very shaky; people stay longer in lower-priced houses and it’s harder to get onto or up the property ladder.”

Full coverage of the conference is available at www.scotsman.com

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