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Tories promise to scrap stamp duty if they win next election

Kemi Badenoch plans to fund stamp duty abolition while adhering to a new fiscal rule and aims to boost economic activity with £47 billion in public sector savings, the Tories say.

  • Last week at the Conservative Party Conference in Manchester, Kemi Badenoch pledged to abolish stamp duty if the Conservative Party wins the next election.
  • Badenoch introduced a 'golden rule' stating half of the £49 billion public sector savings will fund tax cuts and deficit reduction while staying within fiscal rules.
  • Figures show stamp duty receipts totalled about £13.9 billion last financial year, while the IFS estimates abolishing it on primary residences costs around £4.5 billion, and Conservatives 'cautiously' estimate £9 billion.
  • The speech closed a conference that had been overshadowed by leadership questions and the threat from Reform UK, after 20 councillors defected the day before to Nigel Farage's party.
  • Framing the tax cut as pro-growth, she said it would free up the housing market and spark a chain reaction of spending on removals, DIY and home furnishings to revive the Tories' electoral strategy.
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The Northern EchoThe Northern Echo
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Badenoch vows to abolish stamp duty as she closes Tory conference

She pledged a ‘golden rule’ on her budget plans, spending only half of any savings made through spending cuts, with the rest to reduce the…

·County Durham, United Kingdom
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  • 44% of the sources lean Left
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GB News broke the news in London, United Kingdom on Wednesday, October 8, 2025.
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