A BACKBENCH politician is holding discussions with ministers about a potential change to the rate of stamp duty payable on some second homes.
Deputy Max Andrews said he would like to see the 3% surcharge for stamp duty on second homes, introduced in 2016 with the aim of cooling the housing market and protecting first-time buyers, removed in cases where a property was purchased for a family member.
The representative for St Helier North, who was re-elected when the Island went to the polls in June, has arranged to discuss the matter with Housing Minister Malcolm Ferey and Treasury Minister Alan Maclean over the course of this month.
Deputy Andrews said: “I’ve spoken to people in their early 20s who have moved away from Jersey because the house prices remain high and they can get much more for their money elsewhere.
“This would help some people that age get on the property ladder if their parents or grandparents are potentially looking at buying a place.”
The talks with ministers would help identify how a change would work and ensure that any potential loopholes were identified and closed off before the policy was amended, he added.
Deputy Andrews said he believed the move would be a way of recognising demand for home ownership while maintaining fiscal discipline.
He said that he hoped the discussions with Deputy Ferey and Senator Maclean might lead to a government pledge to put forward a proposition to the States Assembly regarding the change, but that he might otherwise consider lodging a proposition himself.
