Top Tories are calling on Chancellor Rishi Sunak to slash stamp duty in a bid to boost the housing market and help first-time buyers.
According to reports, a group of senior Conservative MPs are urging Sunak to reduce the tax on property purchases to stimulate the economy and make homeownership more affordable.
The move comes as the UK’s housing market continues to struggle, with many first-time buyers struggling to get on the property ladder.
Stamp duty, which is currently set at 5% for properties worth between £125,000 and £250,000, is seen as a major barrier to entry for many would-be homeowners.
One MP, who wished to remain anonymous, told LBC that the current system is ‘killing’ the housing market and that a reduction in stamp duty would be a ‘game-changer’ for first-time buyers.
However, the proposal has not been without its critics, with some arguing that reducing stamp duty would simply benefit wealthy investors and not address the underlying issues in the housing market.
Despite this, the idea of reducing stamp duty is gaining traction among some Conservative MPs, who see it as a way to stimulate the economy and make homeownership more accessible.
It remains to be seen whether Sunak will take the advice of his party colleagues and reduce stamp duty, but the debate is likely to continue in the coming weeks and months.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
According to recent figures, the average house price in the UK is now over £250,000, making it increasingly difficult for first-time buyers to get a foothold in the market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The UK’s housing market has been struggling in recent years, with many first-time buyers struggling to get on the property ladder.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said another MP.
The debate over stamp duty is just the latest in a long line of controversies surrounding the UK’s housing market.
‘We need to make sure that we’re not just helping the wealthy few, but also the many who are struggling to get on the property ladder,’ said
