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Tax reform to help housing market - Bank of England's Carney

Published 12/12/2014, 12:53
Updated 12/12/2014, 13:00
© Reuters. Bank of England Governor, Mark Carney, speaks to the media about a transparency report at the Bank of England, in London

LONDON (Reuters) - A change to the way Britain taxes house purchases, introduced last week, will give a small boost to most of the country's housing market, Bank of England Governor Mark Carney was quoted as saying on Friday.

"On the margin, a personal view, I would expect (the changes) to provide some support to the housing market," Carney told London's Evening Standard newspaper in an interview.

However, the changes would probably slow sales at the top end of the market, he added.

Last week, finance minister George Osborne overhauled Britain's so-called stamp duty on property purchases, resulting in cuts in the amount of tax that the large majority of home-buyers pay, but higher payments on expensive properties.

© Reuters. Bank of England Governor, Mark Carney, speaks to the media about a transparency report at the Bank of England, in London

(Reporting by William Schomberg, editing by David Milliken)

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