Stamp duty damp squib

At last the the Govt has said what it will do rather than keep the headlines going about what it might do, and what damp squib it is:

Homebuyers will not have to pay stamp duty on properties costing £175,000 or less for the next 12 months.

The current £125,000 threshold will be raised as part of a package of measures aimed at boosting the housing market.

Someone buying a home for £175,000 will save £1,750 under the scheme, which is likely to cost the Treasury £600m.

Do these fuckwits really think that those who were looking at buying a £175k house were prevented for lack of £1,750? What planet are they on?

And then there's the unitended consequences:

On the good side houses prices at £176k to, say, £200k will now be put under pressure to drop their prices to £175k. Well that's good if you aren't a forced seller.

On the down side those who had priced the £125k limit will be tempted to push up their price by a few £k, affecting the first time buyer.

My guess is that this is going to get a real slating and I'm keen to hear a few beeb vox pop on my way home. It could even be counter productive for Labour once people realise it was just a sop.