"The Tory leader told her party's conference that in England and Northern Ireland she would abolish the tax that new buyers have to pay on house purchases over 125,000. The Conservatives calculate that this would cost 9bn a year to the Treasury. Stamp duty would still apply to additional properties and properties bought by companies, and for purchases by non-UK residents."
"Home ownership should be a dream that's open to everyone, she told the conference. Abolishing stamp duty on your home is a key to unlock a fairer and more aspirational society. Scrapping stamp duty will benefit people of all ages, because conservatism must speak to all generations: the young professional buying their first flat, the couple looking for somewhere to bring up their first baby, the growing family hunting for their forever home."
The Conservatives will abolish stamp duty on purchases of primary residences in England and Northern Ireland for properties over 125,000, while retaining the tax for additional properties, company purchases and non-UK residents. The measure is estimated to cost 9bn a year. Funding is to come from proposed nearly 50bn of spending cuts by 2029, which economists describe as vague and difficult to assess. The policy is framed as widening access to home ownership and stimulating the housing market and wider economy. Other proposed measures include leaving the European Convention on Human Rights, repealing the Climate Change Act and slashing welfare payments.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]