Rumours that the chancellor is thinking of scrapping stamp duty have been quashed by the Treasury, spelling bad news for those Britons looking to make a move to a bigger property.

Just this week the Sun newspaper revealed that Alistair Darling has been looking into the possibility of doing away with the unpopular levy as he comes under increasing pressure to give the struggling housing market a much-needed boost.

However, a statement released by the Treasury reads: "Recent news stories suggesting the government has put forward a proposal on stamp duty are simply wrong. These stories are based on speculation.

"As has been said on many previous occasions, the government has made clear that there are a number of options we will need to consider to help businesses and people get through what is undoubtedly a difficult time."

This development is unlikely to be welcomed by the vast majority of would-be buyers, many of whom will be forced to stay in the present property and even struggle for space as they are unable to generate the up-front costs of making a move.

Those Britons who need more space but who can't afford to move could instead make use of safe storage solutions.

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