Outside talent will flood in if stamp duty eased: DAB
The DAB is calling on Chief Executive John Lee to cut the 15 percent property stamp duty for non-first-time buyers and scrap it completely for talent from outside the SAR who stay for at least seven years. The suggestions were among dozens of ideas the party said it put to Lee at a meeting on Thursday to discuss what they'd like to see in his next policy address. DAB legislator Holden Chow said they told Lee that it's time to "moderately" ease property cooling measures. "We propose to the government that [outside talent] don't need to pay tax right away. They can stay here for seven years, and if they successfully acquire the permanent residency, they don't need to pay," Chow said.  "More talents, we believe, would have the incentive to come to Hong Kong, purchase a house here, and that would be able to stimulate the entire economy."  The party said the administration should also reduce the stocks stamp duty, to encourage trading.   Separately, sources said the chief executive will make weekend district visits to gauge public opinion.  It is understood that Lee is expected to visit public housing tenants in Tsuen Wan on Saturday.