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THE stamp duty on house sales in Medway's poorest ward is to be abolished in a bid to encourage more people to live there. From this Friday, there will be no duty charged on sales up to £150,000.
Twydall ward in Gillingham will also see a rise in the limit or an exemption of stamp duty on commercial property transactions next year. Twydall has been targeted by the Government in a bid to regenerate it as a residential and business area.
It is one of nearly 2,000 wards in the UK designated as disadvantaged communities needing help. The moves, announced in the Chancellor's pre-budget report, were welcomed by local political and business leaders.
Twydall was selected using an index of deprivation under which it is among the most disadvantaged 15 per cent per cent of wards in England. Indices used include income; employment; health and education and training.
Gillingham MP Paul Clark said: "If the abolition of stamp duty leads to more business opportunities, more jobs and more opportunities for the people of Twydall, this is obviously good news for Twydall and for Medway as a whole. This is something that had been talked of before September 11, but now all economies are suffering a slow-down because of that, so it is added good news."