Bradley has voted to abolish Stamp Duty for the family home which could save homeowners who want to move in Bromsgrove and the Villages an average of £6,800.
The plan to cut stamp duty on the family home is opposed by Labour Party, the Liberal Democrats and Green Party.
Stamp duty is a key blocker to purchasing homes for first time buyers and moving home which is why the Leader of the Opposition, Kemi Badenoch, announced plans to abolish it for the family home (primary residence). This will be fully funded by implementing a £47 billion Savings Plan.
Scrapping Stamp Duty will help young people to get a foot on the housing ladder, help young families to buy a bigger home if they want to grow their family and remove a key obstacle older people face when wanting to downsize.
The Conservatives’ plan, which Bradley voted for yesterday (October 28th), could save a first-time buyer purchasing an average price property in Bromsgrove and the Villages £1,800.
In stark contrast, the Chancellor, Rachel Reeves, is widely expected to increase the cost of owning a home at the Budget. This could include the creation of a new property tax on homes over £500,000 as well as increases to Council Tax.
Bradley said:
“Our plan to scrap Stamp Duty for the family home is a moral good, and an economic good.
“Our plans will remove barriers on homeownership and aspiration, and give families the freedom to move, grow, or downsize their homes. New analysis shows it could save families £6,800 in Bromsgrove and the Villages.
“I implore the Government to put at the centre of their fiscal plans the scale of ambition that hard-working people have every single day when they set their alarms, go out to work and do the right thing for their families. The Government must realise that pulling the right fiscal levers and cutting the right taxes will stimulate the very activity that will drive the growth they are so desperate to achieve.”
