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Stamp duty abolished up to £150,000 in deprived areas

The Chancellor of the Exchequer Gordon Brown has announced the abolition of stamp duty on houses worth less than £150,000 in deprived areas in his pre Budget report. Prior t the announcement stamp duty was payable on sales of all houses over £60,000.

The move, seen as a bid to shore up the housing market, will take effect from Friday this week.

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