Stamp Duty Land Tax is a transaction tax that puts barriers in front of people seeking to buy a new home. Despite a discount for first-time buyers, Stamp Duty Land Tax reduces the affordability of home ownership, slows the property market, and ultimately damages the economy. While it is a valuable source of revenue for public finances, Stamp Duty Land Tax must not be maintained in its current form and needs to be reformed. (Conclusion, Paragraph 149)