Recently in Westminster, Epping Forest MP Dr Neil Hudson voted to abolish Stamp Duty on the family home. This Conservative plan could save homeowners in Epping Forest an average of £15,750* when moving house.
Stamp Duty has long been seen as a major barrier for people looking to buy their first home, move to accommodate a growing family, or downsize in later life. The Conservative proposal, which is opposed by Labour, the Liberal Democrats and the Greens, would remove Stamp Duty on primary residences, fully funded through a £47 billion Savings Plan.
The Conservative policy will deliver tangible savings for local people. In Epping Forest, a typical first-time buyer could save around £15,750*. Across the country, the policy would also save buyers £2,300 in London, £5,300 in the East Midlands, and £9,000 in the South East.
By contrast, Labour’s Rachel Reeves is reportedly considering new property taxes on homes worth over £500,000 and increases to Council Tax, which could make home ownership even harder for working families.
As well as voting in favour of scrapping Stamp Duty last week, Dr Hudson spoke in the debate to underline the need to build new homes in the right places, such as brownfield sites rather than destroying the green belt, ensuring communities grow sustainably while protecting local character.
Speaking afterwards, Epping Forest MP Dr Neil Hudson, said:
“Stamp Duty traps families in homes that no longer suit their needs and locks too many young people out of home ownership altogether. Abolishing it for the family home will free up the housing market, help people move more easily, and make it fairer for those aspiring to own their first home. New analysis shows it could save families £15,750 in Epping Forest.
“This is a positive, fully costed step that supports young people, families, boosts mobility, and strengthens our local and national economy.”
Commenting following the vote, Sir Mel Stride MP, Shadow Chancellor, said:
“Stamp Duty is an un-Conservative tax. It punishes those who want to work hard and get on in life, forcing those with ambition to pay a penalty for aiming high.
“It is shameful Labour MPs backed by the Lib Dems failed to vote in favour of controlling public spending and abolishing this dreadful tax for families who want to move home and put down roots in their communities.
“By freeing up our housing market, allowing workers to move jobs and families to grow, we can build a fairer society and a stronger economy.
“Rachel Reeves’ economic mismanagement is making ordinary people suffer. Labour MPs should have joined us this afternoon in demanding she controls spending and scraps stamp duty so we can get Britain growing again.”
