The Conservatives have vowed to scrap stamp duty on main homes, marking a bold move in their housing strategy. Party leader Kemi Badenoch made the announcement during her first conference speech in Manchester, calling it a step toward a fairer and more aspirational society. The new proposal to scrap stamp duty is designed to make home ownership easier for millions and boost social mobility.
Therefore, Badenoch told party members that stamp duty is a bad tax holding back home buyers. She explained that removing it will free up the housing market and encourage more people to buy or move. The plan targets England and Northern Ireland, with similar tax cuts expected if Conservatives take office in Scotland and Wales.
Currently, home buyers pay stamp duty on properties over £125,000, with exemptions for first-time buyers purchasing homes worth up to £300,000. Under the new policy, the tax would remain on second homes, company purchases, and properties owned by non-residents.
Furthermore, the party estimates the plan to scrap stamp duty after 2029 will cost around £9 billion a year. Independent analysts suggest the figure could reach £11 billion, but they consider the Conservative forecast realistic given market uncertainties.
Badenoch said the funding will come from £47 billion in planned savings. These include major cuts to welfare spending, foreign aid, and the Civil Service. She promised that half of those savings would go toward reducing the national deficit, calling it the government’s “golden rule.”
Her 45-minute address also highlighted several new Conservative policies. The party plans to scrap business rates, cancel the carbon tax on electricity, and increase police stop-and-search powers in crime hotspots.
Badenoch also announced the closure of low-value university courses and new incentives for apprenticeships. She repeated her commitment to take the UK out of the European Convention on Human Rights and reduce welfare dependency.
During her speech, Badenoch sharply criticized the Labour government for weak leadership and high taxes. She argued that Labour had no plan for power and was creating chaos across the country.
The announcement to scrap stamp duty capped a speech aimed at resetting the Conservative agenda and rebuilding voter trust. Badenoch urged party members to unite behind her leadership and focus on restoring confidence in the party’s economic vision.
By promising to scrap stamp duty and deliver bold reforms, Badenoch positioned the Conservatives as the party of opportunity and financial responsibility.
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