Stamp Duty Land Tax 2025-10-28

Disagrees with Sir Mel Stride's assertion that Liz Truss’s mini-Budget impacted negatively on working families due to high mortgage interest rates. Implies the Conservative government is mismanaging the economy.

Supports Sir Mel Stride's argument that the current government cannot be trusted with the economy and highlights the incompetence of Chancellor’s fiscal policies leading to high unemployment rates, particularly affecting young people.

Critiques hypocrisy in the Cabinet by supporting building but also attempting to block housing projects. Supports the abolishment of stamp duty to improve economic growth and job creation.

Endorses Sir Mel Stride's proposal for abolishing stamp duty, referencing support from tax specialists in a recent Treasury Committee meeting.

Supports the abolition of stamp duty to improve young people’s access to home ownership and reduce the negative impact on job opportunities due to increased taxes.

Agrees that stamp duty impedes mobility and negatively impacts individuals who need to move for better job opportunities, highlighting its detrimental effect on workforce flexibility.

Cites a study by Jackson-Stops estimating that abolishing stamp duty would allow more people to downsize and free up homes for families, supporting the proposal's economic benefits.

Challenges the Conservative argument by stating that high-end property owners would benefit most from abolishing stamp duty, implying it is a tax cut for millionaires.

Questions the fairness of stamp duty abolition benefiting those with homes worth £2 million by £150,000, suggesting it is a regressive policy benefitting wealthy individuals.

Supports abolishing stamp duty to stimulate the housing market and reduce transaction costs that hinder home ownership opportunities for many potential buyers.

The Government should support this motion today if they believe in growth, a fairer society and a stronger economy. The Chancellor faces a choice between higher taxes or controlling spending and getting taxes down; anaemic growth versus getting the size of the Government under control; destroying jobs versus getting people off benefits into work.

Stamp duty, while not popular, raises £13.9 billion annually and helps first-time buyers compared to those buying second homes or further homes. The Opposition's motion is half-baked with no credible funding plan, showing economic recklessness similar to that of former Prime Minister Liz Truss.

Asked the Chief Secretary if he would back a funded proposal as suggested by the shadow Chancellor, emphasising the need for a credible and workable plan.

Inquired about the Government's intentions to un-gum the housing market and support tradespeople. Highlighted the importance of growth in this context.

Pointed out that under the Conservatives, there is a threat to state pensions based on fringe conference comments from Conservative Members suggesting means-tested state pensions.

Challenged Labour’s record on reducing welfare bills and questioned their credibility in proposing £47 billion of cuts without detailed plans. Emphasised the need to get people back into work rather than cutting public services.

Noted that despite approaching a budget of £1,300 billion, the Government struggles to make even minor savings. Questioned whether this failure undermines their claims about making larger cuts.

Asked if the national debt increased or decreased under the last Government, highlighting the importance of fiscal responsibility and questioning Conservative amnesia on economic performance.

Questions the Minister about the impact of Liz Truss's tenure and the deficit in 2010 when Conservatives first formed a Government.

Challenges the Labour position on austerity, suggesting it is simply living within means, while questioning the Government’s approach to fiscal responsibility.

The current tax system is complicated and unfair with multiple issues such as stamp duty that distorts behaviour and stops people from moving or getting on the housing ladder. Abolishing stamp duty would cost £36 to £44 billion over five years, without clear funding cuts mentioned in the motion.

Questions whether Liberal Democrats' policies will lead to higher taxes for constituents and if there is a plan to replace stamp duty.

Reagan's aphorism about Governments’ approach to the economy is relevant here: 'If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.' We should not pump subsidies into the housing market, as it stifles growth and does not align with a free-market approach. Stamp duty discourages decision-making in the housing market, leading to scarcity and increased prices. It is essential for capitalism to function properly and create abundance rather than scarcity. The conspiracy of crap leads to poorly designed houses being built across the country instead of beautiful ones.

The current situation regarding housing in Milton Keynes North is concerning, with previous Governments and even the Housing Minister not supporting necessary new home developments. While I agree that houses need to be built in the right places, protecting landscape and heritage while allowing market towns to grow sustainably, there needs to be a focus on designing beautiful houses rather than ersatz ones.

Stamp duty policy should help lubricate the system but must ensure that houses are built in appropriate locations. Prioritising brownfield sites and protecting green belt areas is crucial to avoid detrimental impacts on regions like mine.

In Northern Ireland, house prices have risen significantly, making it difficult for young people to obtain mortgages. The proposal brought forward by the Opposition could provide hope and help young people achieve their aspiration of owning a home.

Supports Kit Malthouse's argument about the salience of stamp duty, particularly in London. He cites an example where stamp duty has led to a significant number of people leaving the country.

Questions why Labour did not address this issue during their 14 years in power and suggests there was internal discussion about tax strategy within the Conservative party.

Interrupts Kit Malthouse to ask a question, but no full contribution is provided in the transcript.

Acknowledges that stamp duty is a bad tax and discourages downsizing, leading to fewer homes available for those who need them. However, he cannot support the motion due to lack of funding and focus on wider property tax reforms.

Agreed that stamp duty is the worst kind of tax, hindering young couples, older individuals downsizing, and stifling growth. Proposed abolishing stamp duty on primary residences to make it cheaper for first-time buyers and enable families to move up the housing ladder.

Argued that abolishing stamp duty without funding alternatives would lead to £23 billion in cuts to social security, resulting in rising destitution and unaffordability for families. Emphasised the importance of ensuring people can afford a decent life through the welfare system.

Abolishing stamp duty is proposed as a way to unlock the housing market and promote home ownership. Despite being an unpopular tax, it is seen as beneficial for young couples trying to purchase their first homes or families seeking to move up the property ladder. The proposal aims to make Britain more affordable by abolishing this long-standing tax.

Labour does not support the idea that abolishing stamp duty will solve home ownership issues, arguing instead for a range of policy solutions such as building more homes and offering mortgage guarantees. He criticises the Conservative proposal as benefiting primarily millionaires rather than ordinary homeowners.

Supports abolishing stamp duty, arguing it would increase economic growth and job creation. He challenges Labour's housing targets as unrealistic and criticises their current policies for hindering aspiration and confidence in the economy.

Questioned whether abolishing stamp duty would raise property prices and suggested that raising it might lower them, questioning the economic coherence of Liberal Democrats' argument.

Defended cutting stamp duty as a matter of property rights and freedom, emphasising that if they win the next election, they will proceed with this proposal.

Critiques the Conservatives' plan to abolish stamp duty, arguing it benefits wealthy individuals rather than first-time buyers. She highlights that an average property in her constituency pays minimal stamp duty while a £2 million home attracts over £150,000. The speaker argues this tax cut would harm public services and do nothing for young people getting on the housing ladder.

Argues that stamp duty is unfair and outdated, hindering home ownership aspirations. She cites her local council's record in building homes but notes that prices remain unaffordable for many. The speaker supports a comprehensive reform of property taxation to support social mobility and economic growth.

Expresses sympathy towards stamp duty reform but criticises the Conservatives' proposal as lacking seriousness. He points out that abolishing stamp duty would cost £11 billion a year, with no replacement revenue source proposed. The speaker argues this policy would lead to austerity and increased poverty.

The motion aims to abolish stamp duty on a primary residence, which could save young families up to £18,000 in London. The policy is intended to unlock aspiration and opportunity by reducing the financial barrier for home ownership.

The motion lacks a credible plan on how to pay for abolishing stamp duty. The rise in house prices, not stamp duty, is the main reason young people struggle with home ownership. The policy is regressive and would lead to cuts in public services.

The current state of the economy shows flatlined growth, high inflation, and high long-term borrowing costs. Only the Conservatives are serious about addressing economic issues.

Under the Conservatives' watch, national debt grew by nearly £1 trillion due to Brexit and other factors. They masquerade as the party of good sense in the economy but their policies are destructive.

The Government's increase in national debt was necessary due to events like covid-19 and the war in Ukraine. The average home cost in Farnham is £660,000 with an additional £23,000 stamp duty. This policy will help first-time buyers save up to £18,000 in London and £4,000 in the south-east.

Asked why Labour opposes the Government's moves to build 1.5 million homes and reform planning systems.

The MP questions the effectiveness of scrapping stamp duty, arguing that higher wages would be more beneficial but points out that such a move wouldn't help people in constituencies with higher average house prices.

The Labour MP argues against the proposed cuts and emphasises the benefits of trade deals achieved under her party's leadership, stressing that they are addressing issues left unresolved by previous Conservative governments. She cites increased NHS appointments and affordable housing funding as key achievements.

The Conservative MP challenges Labour's claim about trade deals, asserting that the Brexit deal was crucial for achieving them and notes that the Labour party opposed this agreement.

Liberal Democrat MP criticises stamp duty as a regressive tax but argues against scrapping it without addressing the underlying issue of wage disparity with housing prices. He emphasises the need for substantial house building and wage growth to address the housing crisis.

The MP agrees that Bobby Dean is making a strong argument but questions whether he will support their motion later.

The MP supports Bobby Dean's speech, noting the contradiction between advocating for housing solutions and opposing development in certain areas.

In a spirit of cross-party unity, I congratulate His Majesty’s Opposition on their valiant and brave attempts to dress up a political tax cut as a meaningful intervention in the housing market. The Labour party has always been the party of aspiration and has been the driving force behind social mobility throughout the last century. Serious thinking, this is not. We have stabilised life for renters with the Renters Rights Act 2025 and defeated a judicial review against vested interests and freeholders to move forward with our leasehold proposals.

I am delighted that the Conservatives have come forward with a clear, coherent and aspirational plan to abolish stamp duty land tax on the purchase of primary residences. Stamp duty is a dead weight on the housing market, a tax on aspiration and a barrier to home ownership. The average age of a first-time buyer in England is now 34, up by nearly a decade from where it was 40 years ago. Abolishing stamp duty will save families thousands of pounds and put the many benefits of home ownership back into reach for the next generation.

Raises concerns about the lack of affordable housing options in rural areas. Questions where affordable homes are located for young people.

Responds to Joe Morris, emphasising the need to look forward and think about future policies that support home ownership.

Highlights the importance of downsizing in freeing up homes for younger generations. Emphasises the economic benefits of the proposed policy.

Points out the complexity and regional differences in housing development, particularly concerning green belt land conversion and overdevelopment in some areas.

Explores the impact of government targets on local communities, arguing that building more homes does not necessarily solve the problem of affordability for locals.

Raises concerns about the uneven distribution of housing targets in different regions, suggesting political motives behind such decisions.

Calls for logical and meaningful approaches to setting housing targets, emphasising the importance of building homes in appropriate locations.

The Lib Dems argue that stamp duty land tax is unfair on buyers, particularly first-time buyers who already pay no stamp duty. However, they advocate for a comprehensive review of property taxes rather than abolishing them outright. They also stress the need to build more social and council homes instead of relying heavily on private developers.

The Labour MP highlights the negative impact of past Conservative policies, such as the Truss Budget. He argues for a greater focus on building social and council homes to address housing affordability issues faced by constituents like Rosanna, a solicitor who lives with her parents due to financial constraints.

The Conservative MP recalls his personal experience as a first-time buyer and emphasises the importance of removing stamp duty for first-time buyers. He discusses how housing costs limit family growth decisions, particularly in expensive constituencies like Windsor.

Sir Fox supports abolishing stamp duty, arguing it is a barrier to home ownership and economic activity. He emphasises the Conservative belief in reducing tax burdens, increasing liberty for individuals, and promoting entrepreneurship. Sir Fox notes that eliminating this tax will remove financial barriers for first-time buyers and young families.

Mr Snowden suggests a cost-saving measure by avoiding the sale of sovereign land to fund stamp duty abolition, criticising fiscal decisions made previously. He emphasises the need for holistic solutions in housing reform, including addressing migration and regulations that hinder development.

Proposes abolishing stamp duty as part of a package to stimulate economic growth, arguing it empowers people rather than burdens them. Emphasises that this is an important measure for young people facing high housing costs and competition.

Questions the Conservative proposal's impact on the green economy, citing figures showing it is growing by around 10%, fuelling job creation. Suggests that cutting support for the green economy could undermine economic interests.

Supports stamp duty abolition as a moral mission to unlock aspirations and mobility for first-time buyers, those moving up or down the property ladder. Emphasises that it benefits all, not just the wealthy, and addresses concerns about house price inflation.

Highlights issues related to elderly people needing to move due to care needs, questioning how social support and modifications can be made available. Supports freeing up mobility for better financial outcomes.

Supports cutting stamp duty land tax, arguing it is a counterproductive and bad tax that hinders economic growth. He emphasises the costed proposal to cut stamp duty can be funded by reducing welfare spending. Cites positive contributions from Conservative colleagues who recognise the need for fiscal reform.

Supports the motion to abolish stamp duty, citing that the Government's reluctance to reduce welfare spending leaves them with no credible economic plans.

Opposes supporting the motion due to lack of a credible plan for abolishing the tax and concerns about public spending cuts proposed by the Conservatives.

The shadow Chancellor questions the Conservative party’s new-found hatred of taxation when they increased it 25 times in the last Parliament. He asserts that Labour should be about aspiration, but has lost its way.

The Chief Secretary to the Treasury opens the debate by arguing that the Conservative party seeks to support aspiration, families, small businesses and the building trade. He emphasises that abolishing stamp duty is a key proposal.

The Economic Secretary criticises the Conservatives for offering unfunded tax cuts and instability. She argues that stamp duty, while not beloved, raises billions of pounds annually and is vital to public services.

Intervenes to question whether the Minister was unaware that her own Government brought us to the highest ever level of tax in this country.

The Government is committed to fiscal responsibility, stating that their policies have led to £120 billion in investment over the Parliament. They cite the highest G7 growth rate and real wage increases since the last election. The Opposition's vision is described as leading to soaring debt, low productivity, under-investment, and anaemic growth during their previous term. Lucy Rigby emphasises that the Government supports working people with new jobs, higher wages, and housing opportunities, aiming to build 1.5 million homes this Parliament.

Interjected during Lucy Rigby's speech to correct her statement about the number of houses being built under Conservative leadership, arguing that it was fewer houses compared to what she claimed.