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The Chief Secretary to the Treasury (Mr. Paul Boateng) : I beg to move, That the clause be read a Second time.
Madam Deputy Speaker : With this it will be convenient to discuss the following: amendment No. 8, in page 29, line 30, clause 42, leave out 'stamp duty land' and insert 'property transaction'.
Government amendments Nos. 53 to 57.
Amendment No. 98, in page 35, line 40, clause 53, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 9, in page 37, line 30, leave out Clause 56.
Government amendments Nos. 58 to 63.
Amendment No. 21, in page 42, line 28, clause 62, leave out 'stamp duty land' and insert 'property transaction'.
Government amendments Nos. 64 to 68.
Amendment No. 22, in page 47, line 23, Clause 68, leave out 'stamp duty land' and insert 'property transaction'.
Government amendments Nos. 69 to 76.
Amendment No. 23, in page 59, line 24, clause 93, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 99, in page 65, line 11, clause 104, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 24, in page 69, line 1, clause 114, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 25, in page 69, line 10, clause 114, leave out 'stamp duty land' and insert 'property transaction'.
Government amendments Nos. 77 to 79, 143 and 144.
Amendment No. 26, in page 75, line 2, clause 123, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 100, in page 75, line 22, clause 125, leave out 'SDLT' and insert 'PTT'.
Amendment No. 101, in page 75, line 23, clause 125, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 102, in page 75, line 26, clause 125, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 103, in page 75, line 28, clause 125, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 10, in page 161, line 35, leave out Schedule 5.
Government amendments Nos. 82 to 86.
Amendment No. 104, in page 219, line 33, schedule 13, leave out 'stamp duty land' and insert 'property transaction'.
Government amendments Nos. 87 to 90.
Amendment No. 27, in page 232, line 37, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 28, in page 234, line 4, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 29, in page 234, line 10, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 105, in page 234, line 26, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 30, in page 234, line 29, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 31, in page 235, line 1, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 32, in page 235, line 4, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 33, in page 235, line 11, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 106, in page 235, line 14, schedule 15, leave out 'stamp duty land' and insert 'property transaction'.
Government amendments Nos. 91 to 95.
Amendment No. 34, in page 240, line 17, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 35, in page 240, line 21, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 36, in page 240, line 25, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 37, in page 240, line 27, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 38, in page 240, line 29, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 39, in page 240, line 32, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 40, in page 240, line 37, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 41, in page 241, line 11, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 42, in page 241, line 15, schedule 18, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 43, in page 241, line 21, schedule 19, leave out 'SDLT' and insert 'PTT'.
Amendment No. 44, in page 241, line 28, schedule 19, leave out 'SDLT' and insert 'PTT'.
Amendment No. 45, in page 241, line 31, schedule 19, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 11, in page 241, line 32, schedule 19, at end insert
'but no order under this paragraph shall appoint a date earlier than 1st December 2004.'.
Amendment No. 46, in page 241, line 35, schedule 19, leave out 'SDLT' and insert 'PTT'.
Amendment No. 47, in page 242, line 22, schedule 19, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 48, in page 242, line 26, schedule 19, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 49, in page 242, line 37, schedule 19, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 107, in page 243, line 10, schedule 19, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 50, in page 243, line 13, schedule 19, leave out 'SDLT' and insert 'PTT'.
Amendment No. 51, in page 243, line 14, schedule 19, leave out 'SDLT' and insert 'PTT'.
Amendment No. 108, in page 243, line 15, schedule 19, leave out 'stamp duty land' and insert 'property transaction'.
Amendment No. 15, in page 246, line 8, schedule 20, after 'other', insert 'transitional'.
Amendment No. 16, in page 246, line 9, schedule 20, leave out
'appear to them appropriate in consequence of abolition'
'are necessary or reasonably incidental to effect the replacement'.
Amendment No. 17, in page 246, line 13, schedule 20, leave out
'appear to the Treasury to be appropriate'
'are necessary or reasonably incidental to the replacement of stamp duty except on instruments relating to stock and marketable securities; but any such provision or any such regulation which is not necessary or reasonably incidental to such purpose shall not take effect.'.
Amendment No. 18, in page 246, line 15, schedule 20, leave out
'annulment in pursuance of a'
Mr. Boateng: No one listening to you read out that little lot, Madam Deputy Speaker, could say that we have not listened. I am afraid that the hon. Members for Arundel and South Downs (Mr. Flight) and for Torridge and West Devon (Mr. Burnett) will say that we have not listened, but we have. We have now reached a group of amendments on stamp duty and stamp duty land tax. I shall deal first with new clause 10, which is one of the many examples of our having listened to the concerns of stakeholders. I shall then deal with the Opposition amendments. Finally, I shall deal with the Government amendments. Some of them are technical, but most again reflect our willingness to listen to concerns that have been expressed in Standing Committee and by stakeholders.
6.30 pm
New clause 10 further extends the targeted relief from stamp duty for registered social landlords. Many RSLs have been using a particular form of lease under the impression that it was exempt from stamp duty. However, it now appears that those leases should have been stamped. Recognising the valuable role played by RSLs, we do not believe that it is appropriate now to seek stamp duty on the many lease agreements currently
in place, not least because under current stamp duty provisions, it is unclear whether the liability should be met by those RSLs or their tenants.The new clause therefore exempts from stamp duty indefinite tenancy agreements granted between 1 January 1990 and 27 January 2000 where the landlord at any time before 26 June 2003 has been an RSL. That means that it will apply to indefinite tenancy agreements both granted by and assigned to RSLs. The new clause also removes the administrative burden of stamping tenancy agreements that have not previously been stamped, which means that RSLs will now have certainty that their tenancy leases comply with stamp duty legislation. I commend this worthwhile new clause to the House.
I now turn to the Opposition amendments. Amendments Nos. 8, 21 to 51 and 98 to 108 simply attempt to change the name of the tax and would have no effect on its scope or operation. Their aim is clearly to cause unnecessary alarm and confusion among house purchasers and their advisers by suggesting that the Government are introducing a new tax—[Interruption.] Quite so; Opposition Members attempted to make that suggestion throughout the proceedings in Committee. I should have thought that it had been rebuffed sufficiently for them not to want to repeat their folly on the Floor of the House, but I fear that that is not the case.
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