Kemi Badenoch Pledges Stamp Duty Abolition on UK Primary Homes

Conservative leader Kemi Badenoch has pledged to abolish stamp duty on primary residences if her party wins the next UK general election, positioning this policy as a key measure to make homeownership more affordable and stimulate the housing market. She described stamp duty as a significant barrier preventing people of all ages—from first-time buyers to pensioners—from moving or purchasing homes, promising that scrapping it would unlock a fairer and more aspirational society. The property industry has welcomed the proposal, highlighting that removing stamp duty could boost consumer confidence, social mobility, and economic growth by facilitating more home transactions. However, some financial experts question whether eliminating stamp duty alone would significantly ease the challenges buyers face, noting other costs like estate agency fees and deposits remain substantial hurdles. Economists and think tanks such as the Institute for Fiscal Studies have endorsed the idea, estimating the policy would cost around £4.5 billion, though concerns remain about how the government would fund such a large revenue loss amid economic uncertainty. Badenoch also outlined broader tax-cutting plans and vowed to manage public spending cautiously with a "golden rule" to reduce the deficit, while criticizing current Labour government policies and emphasizing her vision for a country where homeownership is attainable for all.