Time to abolish stamp duty and get Britain moving

T IS becoming harder and harder for young people to get on the housing ladder. With high prices, high mortgage rates and a set of grating taxes, a whole generation is stuck renting. That doesn’t do any of us any good. When people aren’t secure for the long-term, it makes it hard to build communities.

- By James Cleverly

LACK OF SECURITY: The younger generation can feel trapped in the rental sector

As a Conservative, I cannot accept this. Aspiration is at the heart of Conservatism.

And so is community.

We believe people who work hard, save, and support their communities deserve the chance to get on in life. Home ownership is core to that belief.

But this Labour government keeps putting obstacles in the way. Earlier this year they ditched the higher thresholds we introduced.

In doing so they forced thousands more first-time buyers into paying stamp duty.

Stamp duty is a fundamentally un-Conservative tax.

It stops people moving and puts a block on the housing market.

That’s why I called for stamp duty to be scrapped when I ran for the Conservative leadership.

And I’m delighted, but not surprised, that Kemi decided to make this a key part of our plans for government.

Getting rid of stamp duty won't just help people buying and selling — it will bring an enormous boost to the small businesses at the heart of our communities and help build a stronger economy.