WEST WORCESTERSHIRE MP Dame Harriett Baldwin has urged the Government to cancel the tax on selling homes to help more people to get onto the housing ladder and to help the local economy.
The MP met with leading local estate agency Andrew Grant to assess the strength of the local housing market and to understand what benefits could come from abolishing stamp duty on house purchases.
Local house prices are flat and houses are being taken out of the rental sector making it harder for young people to take their first steps into home ownership, for families to upsize and for older people to downsize.
Analysis carried out the Conservatives show that homeowners in the Malvern Hills area could save £7,011 and people living in Wychavon could save £6,047 on average with the cancelation of the property sales tax.
The measure is one of many published by the Conservative party as part of its alternative King’s Speech.
Dame Harriett said: “Stamp Duty is often called the country’s worst tax and it is holding people back. I have advocated the abolition of the tax for some time, and I am delighted that it is one of the pledges we have made to change taxes using savings found in the welfare budget.
“Local experts agree that scrapping stamp duty land tax for all primary homes would spur growth in our local economy and give people hope.
“A Conservative Government would get rid of stamp duty and free up the housing market to allow more people to move homes. This measure would be a huge step forward to allow more people to enjoy living in our wonderful rural area, with great schools, great leisure activities and ambitious local employers.”
Andrew Grant chief executive Scott Richardson Brown added: “Stamp Duty is an incredibly inefficient tax and freeing up the housing market without a punitive transaction tax by enabling people to move, whether to downsize or relocate for a new job opportunity should always be in everyone’s interest.
“The scrapping of Stamp Duty would be of significant benefit to the economy and we’d welcome this change.”
