Deputies vote against 5% increase to stamp duty

Jersey politicians have voted against increasing stamp duty in the island by 5%.

Deputy Max Andrews, who brought forward the proposition to the States Assembly, said people were leaving the island because they could not afford to live in Jersey.

Housing Minister Deputy Sam Mezec argued the previous rise in stamp duty to 3% was enough and he did not see the need to increase it further.

Forty-one members voted against the proposition, three for and one abstention.

Stamp duty is a surcharge people buying a second home or buy-to-let investments have to pay on a property.

Andrews said it was likely more families would be able to afford their first homes in the island if stamp duty increased.

"Young people in Jersey don't see the island as a long-term home and when they go, they're not coming back because it's too expensive to live here," he said.

Mezec argued the previous rise "has had a positive impact" and it had given first time buyers "a chance" in the island's housing market.

"I think it's better to leave as it is for now, not raise it, not reduce and see where we go and re-evaluate it at a later date," he said.

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