Ministers rejected plans for stamp duty holiday

Jersey ministers considered reducing stamp duty for homeowners hoping to "right size" but ultimately decided against it as there was "insufficient evidence" it would free up properties for families.

Minister for Treasury and Resources Alan Maclean revealed he and Minister for Housing Malcolm Fery looked at including a stamp duty holiday in the proposed 2027-2030 budget.

However, Senator Maclean said there was a "joint decision" not to proceed after a review of advice from officers, an analysis of housing market conditions and the potential cost to the public purse.

"Right-sizing" involves encouraging under-occupying tenants move into smaller homes to help increase supply.

Responding to a written question from Reform Jersey deputy Tom Coles, he said ministers would continue to consider "non-tax measures that may support right-sizing and improve housing market mobility".

He explained the decision not to proceed with a stamp duty concession to help increase the availability of family homes.

"The analysis indicated that stamp duty is not generally regarded as the principal barrier preventing older homeowners from right-sizing," he said.

"Rather, the limited availability of suitable downsizing accommodation remains a more significant constraint.

"Ministers also considered the reduction in stamp duty revenues that would result from such a measure and concluded that there was insufficient evidence that a stamp duty holiday would deliver benefits proportionate to its fiscal cost."

The States Assembly is due to debate the proposed budget, as well as any suggested amendments from backbenchers, in the week beginning 7 December.

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