Dr Ben Spencer, MP for Runnymede And Weybridge, today called on the Chancellor to abolish Stamp Duty entirely for home ownership.
During debate on the Stamp Duty Land Tax (Temporary Relief) Bill, Dr Spencer welcomed the changes being brought forward by the Government to remove Stamp Duty on all property sales below £500,000. This will support the housing sector, improve mobility, will support all the industries linked into housing and will create and support jobs. However Dr Spencer called on the Government to go further and eliminate the tax entirely.
He said:
Across Runnymede and Weybridge people have shown me that while Covid has posed challenges, it has also demonstrated opportunities for change and improvement. So I thank the Chancellor for these changes, but I ask that we go even further, and stamp out stamp duty entirely for home ownership.
To view the debate, please visit here. For more information on the Government’s Stamp Duty cut, please visit here.
