I read with interest in Estate Agent Today the following regarding Stamp Duty:-

Senior MPs clashed in the House of Commons this week over how best to reform Stamp Duty.

Chancellor Rachel Reeves is rumoured to be considering a Stamp Duty overhaul in her Autumn Budget next month.

This may include a new national property tax on sellers or even charging capital gains tax on higher-value homes.

However, the Conservatives used an Opposition Day debate to reiterate the party’s pledge to scrap the tax and urge the Treasury to reveal how it will ‘ungum’ the housing market.

Shadow Chancellor Mel Stride said, “It doesn’t have to be like this”

“We can reduce taxes if we get on top of public spending. At my party conference, we set out £47billion of savings across the government, including £23billion in savings across the Welfare budget.

“What did the Government do when it tried to tackle the welfare budget?

“They showed us that this is a Dad’s Army of Government with a Captain Mainwaring of a Chancellor – no match even for the rabble behind them.

“We know that we need to have responsible tax cuts. That means they need to be funded and they need to lean into growth, and that is why we have announced that, were we in government, we would be abolishing stamp duty on primary residences”

However, Chief Secretary to the Treasury James Murray hit back, labelling the Tories’ plan to axe Stamp Duty as “half-baked and from the "ghost of Liz Truss”

If you would like further information re the current property market, call David Phillip FRICS, who has over 40 years of experience selling homes and has one of the best understandings of Property in North Leeds

If you are considering selling your home and would like a free market appraisal, please call
David Phillip Estate Agents on 0113 4676400.
86, Leeds Road, Bramhope, LS16 9AN w:davidphillip.co.uk
David Phillip Estate Agents, selling houses in North Leeds and covering Bramhope, Adel,
Cookridge, Pool-in-Wharfedale, Otley and Alwoodley.