Labour proposes stamp duty break for first-time buyers

27th April 2015


Ed Miliband is to propose today that under a Labour government first-time buyers would not have to pay stamp duty when purchasing a home for less than £300,000 according to a BBC News report.

The Labour leader said: “There is nothing more British than the dream of home ownership and home ownership is out of reach for so many people in our country. That is why I will be setting out proposals later today to make life easier for first time buyers.”

The report added that Miliband will announce, in a bid to tackle low house-building levels and falling home ownership, local residents would get “first call” on up to half of new homes in their area for a time.

Commenting on Labour’s new plans, a Conservative spokesman described the move as “panicky” and that it would cost more than twice as much as it was claiming.

Last year, the Chancellor George Osborne announced an overhaul of the UK’s stamp duty system in his Autumn Statement.

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