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The Chancellor has been urged to scrap stamp duty on all family homes in next month’s Budget by The Land Promoters and Developers Federation (LPDF).
According to the federation, removing the tax would boost the housing market, help young first-time buyers, and encourage downsizers to move.
The LPDF has called on Chancellor Rishi Sunak to use the housing sector to lead the country out of recession and deliver the 300,000 new homes needed each year.
In addition, LPDF has suggested that revaluing and reforming the “regressive and distortionary” tax could help in delivering Prime Minister Boris Johnson’s levelling-up agenda.