Part of 1. Questions to the Minister for Finance and Trefnydd – in the Senedd at 1:49 pm on 13 January 2021.
Well, the existing reduction that is due to end on 31 March—which is also or at least a similar timescale is being thought of across the border in England as well—was intended to be brought in to ensure that we bring forward some of those transactions from next year. So, it was always intended to be a time-limited intervention to increase the number of homes that are transacted in this financial year. But that said, even when we go back to our original rate, the majority of house buyers in Wales will pay no or reduced land transaction tax and certainly less than they would have paid elsewhere. And we're also in the position in Wales where our average house price is much less than elsewhere. I appreciate it's a different situation in the constituency that Nick represents. But I still think that even then, we will have the most progressive approach that there is in the UK.