Written question WQ86430
- Asked by
- Darren MillarConservative
- To be answered by
- Minister for Finance and Local Government
- Tabled
- Due
- Answered
- Time to answer
- 8 days
Question
What consideration has the Welsh Government given to waiving land transaction tax for property purchases by employers who buy homes to let to their employees at affordable rents?
Answer
Answered by Minister for Finance and Local Government
The primary purpose of land transaction tax (LTT) is to raise revenue to fund essential public services in Wales. LTT rates are progressive and based on the price paid for the property or land. Providing relief for employers who purchase properties to let to employees at affordable rents either would require other taxpayers to pay more or would reduce revenues available for funding those essential public services.