| Abolishing stamp duty 16:50 - Oct 8 with 2437 views | townblue |
Just a straight up bribe for votes? |  | | |  |
| Abolishing stamp duty on 16:53 - Oct 8 with 1652 views | Cotty |
Yes. Hopefully it works and splits the vote on the right. |  | | |
| Abolishing stamp duty on 17:03 - Oct 8 with 1605 views | vapour_trail |
Think that will prove popular. I would expect that to do her no harm at all. |  |
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| Abolishing stamp duty on 17:13 - Oct 8 with 1562 views | Stenvict |
A politician probably lying to get voted in?
No way |  |
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| Abolishing stamp duty on 17:13 - Oct 8 with 1563 views | Radlett_blue |
Yes, looks like a bribe to potential Tory voters. Stamp duty is an inefficient tax, but at least it is paid by the relatively wealthy. It raises over £10bn annually so the money will have to be found from somewhere. Some chat about cutting welfare (always sounds good until you get into the detail) & the usual drivel about Civil Service savings. |  |
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| Abolishing stamp duty on 17:15 - Oct 8 with 1556 views | iamatractorboy |
Did it drive up house prices the last time they did something similar during covid? I think that was a reduction not a complete abolition but I assume any reaction would be similar but more pronounced this time. | | | |
| Abolishing stamp duty on 17:17 - Oct 8 with 1543 views | homer_123 |
| Abolishing stamp duty on 17:13 - Oct 8 by Radlett_blue |
Yes, looks like a bribe to potential Tory voters. Stamp duty is an inefficient tax, but at least it is paid by the relatively wealthy. It raises over £10bn annually so the money will have to be found from somewhere. Some chat about cutting welfare (always sounds good until you get into the detail) & the usual drivel about Civil Service savings. |
Relatively wealthy? Err, not really.
In April 2025 you buy a house for £295,000. The SDLT you owe will be calculated as follows:
0% on the first £125,000 = £0
2% on the second £125,000 = £2,500
5% on the final £45,000 = £2,250
total SDLT = £4,750
Average UK house price as of April 2025: £271,000
First time buyers up to £425k pay no duty. [Post edited 8 Oct 17:33]
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| Abolishing stamp duty on 17:22 - Oct 8 with 1500 views | Ftnfwest |
Rayner came up with that! |  | | |
| Abolishing stamp duty on 17:25 - Oct 8 with 1491 views | J2BLUE |
Like the Tories before the election, they are just throwing out anything they can think of knowing they have no chance. |  |
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| Abolishing stamp duty on 17:27 - Oct 8 with 1484 views | giant_stow |
| Abolishing stamp duty on 17:03 - Oct 8 by vapour_trail |
Think that will prove popular. I would expect that to do her no harm at all. |
yeah agreed.
It would be lovely to make moving house more affordable - I suspect loads of people would start to consider a move, where they hadn't before, especially down south. That's ignoring the cost to the govt though - £10b ish isn't it? Seems like there should be plenty of bigger priorities. [Post edited 8 Oct 17:29]
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| Abolishing stamp duty on 17:32 - Oct 8 with 1444 views | Pinewoodblue |
| Abolishing stamp duty on 17:27 - Oct 8 by giant_stow |
yeah agreed.
It would be lovely to make moving house more affordable - I suspect loads of people would start to consider a move, where they hadn't before, especially down south. That's ignoring the cost to the govt though - £10b ish isn't it? Seems like there should be plenty of bigger priorities. [Post edited 8 Oct 17:29]
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Think it is nearer £12B, and going higher each year. |  |
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| Abolishing stamp duty on 17:34 - Oct 8 with 1436 views | Chris_ITFC |
A bit like promising no tax cuts then… |  |
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| Abolishing stamp duty on 17:35 - Oct 8 with 1431 views | Radlett_blue |
| Abolishing stamp duty on 17:17 - Oct 8 by homer_123 |
Relatively wealthy? Err, not really.
In April 2025 you buy a house for £295,000. The SDLT you owe will be calculated as follows:
0% on the first £125,000 = £0
2% on the second £125,000 = £2,500
5% on the final £45,000 = £2,250
total SDLT = £4,750
Average UK house price as of April 2025: £271,000
First time buyers up to £425k pay no duty. [Post edited 8 Oct 17:33]
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The bulk of stamp duty is paid by those buying homes for £1m+. A buyer of a house for £1.75m would pay £124,000 in stamp duty. | |
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| Abolishing stamp duty on 17:41 - Oct 8 with 1400 views | giant_stow |
| Abolishing stamp duty on 17:35 - Oct 8 by Radlett_blue |
The bulk of stamp duty is paid by those buying homes for £1m+. A buyer of a house for £1.75m would pay £124,000 in stamp duty. |
The funny thing is that I would say its likely the bod in Homer's example, paying £5 grand would feel it more than the one paying £124 grand in yours. | |
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| Abolishing stamp duty on 17:54 - Oct 8 with 1369 views | Zx1988 |
Wasn't this trailed by Labour a couple of months back, alongside suggestions of a wider reform of property taxation?
If so, this could be happening a lot sooner than Kemi would suggest. | |
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| Abolishing stamp duty on 17:58 - Oct 8 with 1349 views | NedPlimpton |
| Abolishing stamp duty on 17:41 - Oct 8 by giant_stow |
The funny thing is that I would say its likely the bod in Homer's example, paying £5 grand would feel it more than the one paying £124 grand in yours. |
But it'll still a far greater saving for the wealthy
Also not sure what she's said with regards to 2nd homes which are subject to higher STLD |  | | |
| Abolishing stamp duty on 17:59 - Oct 8 with 1346 views | Radlett_blue |
| Abolishing stamp duty on 17:41 - Oct 8 by giant_stow |
The funny thing is that I would say its likely the bod in Homer's example, paying £5 grand would feel it more than the one paying £124 grand in yours. |
To me, it's an indication that the Tories can't throw off their obsession with the property market & the idea that rising property prices make home owners wealthier, happier & more likely to keep voting Tory. Same goes for their obsession with preserving the Green Belt at all costs, which has the same effect. Plus the endless subsidies to the lower end of the housing market, in an attempt to keep prices up.
It would be a great benefit to the economy if a 25% drop in house prices in the south-east could be engineered, although those who have bought properties fairly recently would understandably disagree. | |
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| Abolishing stamp duty on 18:03 - Oct 8 with 1332 views | Swansea_Blue |
| Abolishing stamp duty on 17:25 - Oct 8 by J2BLUE |
Like the Tories before the election, they are just throwing out anything they can think of knowing they have no chance. |
Yeah, it’s performative bollox knowing they’ll never be in the position to have to deal with £10BN reduction in tax take. But they can point to it and say ‘we want to reduce taxes, but x* want you to pay more’. ‘x’ is probably Labour in England, but other viable parties are available in Wales and Scotland and the Greens might even get some traction (unlikely to get enough new voters to threaten, but the gutter right wing press is already after their new leader so they are obviously worried). |  |
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| Abolishing stamp duty on 18:16 - Oct 8 with 1292 views | giant_stow |
| Abolishing stamp duty on 17:59 - Oct 8 by Radlett_blue |
To me, it's an indication that the Tories can't throw off their obsession with the property market & the idea that rising property prices make home owners wealthier, happier & more likely to keep voting Tory. Same goes for their obsession with preserving the Green Belt at all costs, which has the same effect. Plus the endless subsidies to the lower end of the housing market, in an attempt to keep prices up.
It would be a great benefit to the economy if a 25% drop in house prices in the south-east could be engineered, although those who have bought properties fairly recently would understandably disagree. |
Totaly agree on the 25% thing. | |
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| Abolishing stamp duty on 18:31 - Oct 8 with 1220 views | BrandonsBlues |
the only policy the tories ever has is housing. Covid, give freebies to keep the housing market moving. now out of power abolish stamp duty for main homes only. They have nothing else. | | | |
| Abolishing stamp duty on 18:49 - Oct 8 with 1157 views | BanksterDebtSlave |
So the asking price for a house is likely to go up by the corresponding amount surely meaning nobody wins but we all lose. |  |
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| Abolishing stamp duty on 18:55 - Oct 8 with 1121 views | OsmansCleanSheet |
I’m sure they’ll pay for it by making cuts to the NHS and other public services. |  | | |
| Abolishing stamp duty on 19:12 - Oct 8 with 1034 views | azuremerlangus |
| Abolishing stamp duty on 16:53 - Oct 8 by Cotty |
Yes. Hopefully it works and splits the vote on the right. |
…for main homes.
So the headline isn’t quite correct. |  |
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| Abolishing stamp duty on 20:04 - Oct 8 with 880 views | DJR |
| Abolishing stamp duty on 19:12 - Oct 8 by azuremerlangus |
…for main homes.
So the headline isn’t quite correct. |
And Jon Craig on Sky News said that the abolition will take place over the course of a Parliament, so phased abolition or gradual removal would be a better headline.
It clearly though isn't and won't be reported as such. [Post edited 8 Oct 20:08]
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| Abolishing stamp duty on 20:07 - Oct 8 with 865 views | redrickstuhaart |
It's not a fair tax. Good idea in principle. However, the country is broke and the public sector wrecked. So it's not remotely justifiable at present. | | | |
| Abolishing stamp duty on 20:16 - Oct 8 with 840 views | DJR |
| Abolishing stamp duty on 17:25 - Oct 8 by J2BLUE |
Like the Tories before the election, they are just throwing out anything they can think of knowing they have no chance. |
From John Crace in the Guardian.
Finally, we got to the economy. There would be an exciting new golden rule that would enable everyone to sleep well at night. A golden rule that she promptly broke within a couple of minutes by promising to abolish stamp duty. Cue a spontaneous orgasm within the hall. The Tories like nothing more than an unfunded tax cut. It’s what keeps them going. Even if it’s a tax cut that’s never going to happen because the Conservatives are now little more than a death cult. Stand by for whoever is Tory leader this time next year to get rid of income tax. And whoever is leader the year after to do away with VAT. It’s all meaningless. | | | |
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