The current shortage of properties on the UK housing market has been caused by Gordon Brown's increases in stamp duty, a think-tank has concluded. According to the Centre for Economics and Business Research (Cebr), demand is far outweighing supply in the residential housing market because of the chancellor's stamp duty policy. During his first three years as chancellor, Mr Brown raised stamped duty on higher priced properties from two per cent to four per cent. Since he was appointed chancellor in 1997 overall stamp duty revenues have risen to around £7 billion, which represents a tenfold increase.