Stamp duty is "an important source of revenue" for the Government and cutting it would "create a significant cost to the Exchequer" at a time when the country is already in debt, a Treasury spokeswoman said.
It is a progressive tax and those who purchase higher value property pay a higher share of tax. In 2012, 34% of transactions didn't pay SDLT on their purchases and a further 43% paid less than £2,500.
SDLT is an important source of Government revenue, raising several billion pounds each year to help pay for the essential services the Government provides and supports.
Reducing it would create a significant cost to the Exchequer at a time when the Government is focused on reducing the deficit.
More top news
Donald Trump has hit out at the media over its coverage of his reaction to the violence in Charlottesville at a campaign rally in Arizona.
Nearly 500 identity frauds were reported every day in the first half of this year.