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Stamp Duty Reduction: The Greenwood Housing Association: Assisted Housing Scheme: Approval

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 5 April 2024:

Decision Reference:  MD-TR-2024-268

Public

Subject: Approval of The Greenwood Housing Association Assisted Housing Scheme on Field 525

 

Report Title: WR- Approval of The Greenwood Housing Association Assisted Housing Scheme on Field 525

Exempt (Article 33(b))

Decision(s):

The Minister decided to approve the The Greenwood Housing Association on Field 525 scheme, as set out in the accompanying report.

Reason for Decision(s):

This Assisted Housing Scheme is in line with and supplements Government policy and action in the priority area of Housing.   Article 6B of the Stamp Duties and Fees (Jersey) Law 1998 states:  6B     Reduction of stamp duty where immovable property purchased under approved Assisted Ownership Scheme[15]  (1)     Where a first-time buyer purchases immovable property under an Assisted Ownership Scheme and the conditions set out in paragraph (2) are met, the amount of stamp duty payable is that set out in item 13(b) in a table in paragraph 3 of Schedule 1, calculated as if the affordable price were the gross value of the property.  (2)     The conditions are that the Assisted Ownership Scheme has been approved by the Minister for Housing and – (a)     the property has been allocated to the purchaser through the Affordable Housing Gateway administered by the Minister for Housing; or (b)     the Scheme has been approved by the Minister for Treasury and Resources.  (3)     The affordable price is the proportion of the gross value of the property that is funded by the purchaser, whether or not secured by one or more simple conventionnel hypothecs, or other security.

Resource Implications: There are no staffing implications arising from this decision.   A level of stamp duty will be foregone, however these types of approval signal encouragement to the parishes to invest in social housing in their areas; these investments in a priority area for government also outweigh any stamp duty forgone.    An estimate for the Stamp Duty foregone is circa £200,000 on the basis of the calculation above and the 16 homes in the scheme. The Association, for its part, is providing in essence £3 million of subsidies to purchasers in the scheme.

 

Action Required: The Assistant Comptroller to advise the Judicial Greffe, and relevant stakeholders of the Minister’s approval.

Signature:

 

 

Signed By: Minister for Treasury and Resources

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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