New analysis has found that under plans set out by the Conservative Party, families in Uttlesford could save £13,816 when moving home.
Housing has become unaffordable for many, including young people hoping to get a foot on the housing ladder. That is why, in October last year, local MP and Conservative Party Leader Kemi Badenoch announced that a future Conservative Government would abolish stamp duty on the family home.
The ambitious plan - is fully funded by cuts that the Conservative Party will make to the unsustainable welfare bill and other areas of public spending - will get the market moving by releasing hundreds of thousands of homes.
Research suggests up to 2 million people would consider downsizing in the next five years if stamp duty were abolished. Even if only half of them did, that would mean a million additional homes becoming available to buy, boosting economic activity and giving more people a stake in our economy.
Abolishing stamp duty would give a huge boost to local economies struggling under the weight of Labour’s tax raids. Every house sale brings with it extra income for local businesses – builders, decorators, removal firms and more – with research suggesting the Conservative plans could give a £1.2 billion boost to these companies.
Commenting, the Rt Hon Kemi Badenoch MP said:
“Stamp duty is a bad tax. A future Conservative Government under my leadership will scrap it, saving families in Uttlesford nearly £14,000 and giving them the opportunity to move, upsize or downsize their homes.
“Labour are failing dismally to deliver the housing transformation they promised. Reform have no plan at all. Liberal Democrats voted against our plan. The Conservatives are the only party that will get the housing market moving and help people achieve the dream of home ownership.”
