Conservatives propose abolition of stamp duty

02 October 2007
Conservative leader David Cameron has suggested his party would look to abolish stamp duty on houses worth up to £250,000.

Speaking on BBC One's Andrew Marr Show, Mr Cameron said that house prices are proving to be a barrier for many first-time buyers, with the country currently experiencing its lowest rate of new buyers for 27 years.

"Today people are looking at their salary cheque, they're looking at house prices and they're just thinking: 'I can't do this. I can't get on that ladder'," Mr Cameron argued.

One reason for this, he said, was the government's decision to increase stamp duty on a number of occasions.

Removing the tax on properties below £250,000 would ease the financial burden on the 200,000 people who pay an average of £2,000 on stamp duty, he added.

The party's shadow chancellor George Osborne also announced that the Conservative's aimed to reduce the inheritance tax burden for families.

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