Writing in this week's Bromsgrove Advertiser (April 1st), Bradley said:
"We should scrap Stamp Duty on the family home.
Doing so is a moral and economic good and new analysis has found that, under plans I support, families in Bromsgrove and the Villages could save £6,692 when moving home.
Housing has become unaffordable for many, including large numbers of young people, hoping to get a foot on the housing ladder. Stamp Duty is a bad tax that makes the process of purchasing a home more expensive. It also stops older people from downsizing and prevents young couples who want to start a family from buying a bigger home.
That is why in October last year, I voted to abolish Stamp Duty on the family home. However, the Government used its majority to vote it down.
The ambitious plan – which is fully funded by cuts 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 the stake people have in our economy – leading to a stronger economy.
Currently the Government wants to build all over our greenbelt. But if they abolished Stamp Duty on the family home, they could free up millions of homes which I believe would mean the Government could reverse their 85% in our housebuilding target.
Abolishing Stamp Duty would also give a huge boost to local economies struggling under the weight of the Government’s tax raids. Every house sale brings with it extra income for local businesses – builders, decorators, removal firms and more – with research suggesting these plans could give a £1.2 billion boost to these companies.
The plans I’m supporting 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 £6,692 in Bromsgrove and the Villages.
I will continue to support measures to get the housing market moving and help people achieve the dream of home ownership."
