The European Commission (EC) has given the go ahead to government plans to abolish stamp duty in almost 2,000 disadvantaged areas across the UK.
The changes were announced in the 2001 Budget, but were awaiting state-aid approval from the EC.
European Union rules stipulate that any government initiative which could be interpreted as unfairly benefiting businesses has to be cleared by the EC.
The changes will now be implemented in April’s Budget.
EGi News 23/01/03
