The solution to the housing problem

Peter Hain has come up with the most incredible solution to the housing market and I can not believe no one else had thought of this before.  The Secretary of State for Wales and NI and also one of the candidates for the Labour deputy leadership proposed that stamp duty could be switched from home buyers to sellers to help young people get on the housing ladder.  This, of course, would increase the supply of affordable housing.  He told Simon Mayo on radio Five Yesterday, "We should consider whether it would be more appropriate for the seller of a property to pay the stamp duty rather than the buyer. This would exempt first-time buyers from the charge. A move like this would be revenue- neutral, but would be an enormous boost to young people."   This would not only tackle the housing problem but also reduce the gap between rich and poor.  Amazing.  For example, a house costing between £250,000 and £500,000 would save the buyer 3% in stamp duty, all because the seller would pick up the cost instead. 

Of course, the seller could just pass the cost straight back to the buyer in the sale so he wasn't out of pocket.  Oh.  Not such a good idea after all.  In fact, the most stupid idea to come out of this election to be absolutely nothing, so far.  Keep on trying Peter, all is not lost... until the end of the month anyway.