Will the Minister consider reforming the land transaction tax so that it incentivises the growth of the affordable long-term rental market?
Answered by Minister for Finance and Local Government | Answered on 08/08/2022
Land transaction tax (LTT) and its impact on the market is kept under review. LTT revenues directly contribute to the funding of the Welsh Government’s expenditure plans including initiatives to support the long-term rental sector such as the Leasing Scheme Wales. The scheme will improve access to longer term affordable housing in the private rental sector, delivering security for tenants and confidence for landlords.