Call to stamp out stamp duty

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More than a quarter of home buyers in England and Wales are now paying stamp duty at the higher rates of 3% or more and facing bills of over £7,500, according to research published today.

The data was released as pressure group the TaxPayers' Alliance launched a Stamp Out Stamp Duty campaign calling for a cut in the "punitive" levy, which raised £4 billion for the Treasury in 2012/13 - some £3.6 billion of which was collected at rates of 3% or more.