The Conservative Party leader Kemi Badenoch surprised her part conference byannouncing a bold pledge: to abolishStamp Duty on residential property purchases.
For decades, Stamp Duty has been one of the biggest frustrationsfor buyers in the UK housing market. Whether you’re a first-time buyer scrapingtogether a deposit, or a property investor looking to expand, Stamp Duty hasalways added thousands to the cost of moving.
Watch video https://youtu.be/OHdOUeZ9zRg
TheConservatives argue that scrapping it will:
Make housing more affordable for families
Encourage mobility in the market
Stimulate property transactions and economic growth
Butcritics warn that it could push up houseprices, as buyers with extra cash bid higher, and may not solvethe deeper issues of affordability. For landlords and second-home buyers, itcould be a major tax saving — but will it mean more competition for first-timebuyers?
From a UK perspective, thispromise could reshape the housing market. If delivered, it would mark one ofthe most significant changes to property taxation in decades.
Thepolicy does not include the Stamp Duty Surcharge on second and buy-to-letproperties, introduced by the thenConservative Chancellor George Osbourne, who also brought in the Section 24 ‘landlord tax’.
Whilstthe Conservatives are lagging in the polls, and would still have to win thenext general election in three or four years’ time, the shock announcementcould prompt Labour to adopt the plan to revive the flagging housing market aswell as reversing Sir Kier Starmer’s declining popularity.
In today’s MoneyTips Podcast, I’ll break down:
· Who benefits most from this pledge
· What it could mean for homeowners, landlords, and investors
· And whether this is a genuine fix, or just another electionheadline
Watch now to find out how thispromise could impact your finances.
See also:
Labour’s Coming forYour House? Rachel Reeves’ Shocking Tax Plan!
Is this the righttime to buy?
Watch full video: https://youtu.be/72J6Bo0sG2Q
See also:
Property or Stocks – Which Is The Best Investment For You?
“Should I invest in property orthe stock market?”
Watch video - https://youtu.be/M6kWFPs8HPw
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