Lord Beecham – 2016 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Lord Beecham on 2016-09-05.

To ask Her Majesty’s Government what estimate they have made of the total untaxed capital gains that will accrue to the beneficiaries of the starter homes scheme by 2020, taking into account the discount and any anticipated rise in house values.

Lord Bourne of Aberystwyth

The 2015 Conservative manifesto had the clear objective to build affordable homes, including Starter Homes to support young people into home ownership. They will be sold at a minimum 20 per cent discount on open market value and for no more than the price cap of £250,000 (£450,000 in London). The amount of discount will vary according to local property prices. No separate assessment on capital gains has been made.