Press Release Summary: In a declaration made by the Finance ministry on Tuesday, properties whose value is less then 175,000 pounds will be relieved from paying any home purchase tax for the next one year
Press Release Body: London (Longdog Finance) September 4, 2008: This decision about the exemption of home purchase tax, also known by the name of stamp duty has come as a shocker for most of the people. This move, which was a significant part of Prime Minister Gordon Brown\'s list of measures, was presented in front of audience on Tuesday. It has left a majority of people scratching their head. The explanation behind this move is said to be the concern of eminent political personalities about the present state of economy of country.
It is anticipated that this surprise will be a pleasant one for the country\'s economy as well as for the Labour Party, which is currently undergoing through the most turbulent phase of their entire career. Recent studies too, have claimed that for the 12 months back to back, home loans approvings have come down drastically. The same goes for the house prices which have shown a fall of minimum 10 percent.
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