Chancellor Alistair Darling’s first Budget failed to address the industry’s concerns about declining numbers of first time buyers, missing a timely opportunity to assist them by raising the stamp duty threshold. Latest figures from the Council of Mortgage Lenders show that rising house prices have left just 39% of first time buyers immune from paying stamp duty.<br><br>The only nod to first time buyers in the Budget was the chancellor’s announcement of plans to expand shared equity schemes, making them available to key workers with 50% equity, rather than the 75% previously required. Shared equity buyers will also be exempted from paying stamp duty until they have “staircased” up to 80% ownership. But this does not go far enough, said HBF external affairs director John Slaughter: “Despite a modest step in the right direction through stamp duty relief for shared equity homes, the chancellor missed a much bigger opportunity to help first time buyers and the whole housing market.” David Pretty, chair of the New Homes Marketing Board said: “Stamp duty has become a totally unfair tax on those that can afford it least and it has to be tackled sometime – this was a lost opportunity to do so. It …