Tory pledge to scrap stamp duty 'would be huge boost' to housing market

KEMI Badenoch’s flagship pledge to abolish stamp duty would boost the housing market and drag Britain out of the doldrums, research suggests.

- Christian Calgie Senior Political Correspondent

The Tory leader — who celebrated her first year at the helm at the weekend — announced at party conference last month plans to use the proceeds of spending cuts on welfare and the civil service to fund the removal of the hated property tax.

While the Tories earmarked a generous £9.2billion costing, think-tank the Adam Smith Institute (ASI) believes it would cost far less.

The ASI says that due to wider economic benefits, the cost to the exchequer would be just £5.1bn.

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