Kirstie Allsopp calls for stamp duty to be abolished in Reeves’ Budget
Location, Location, Location presenter speaks to MPs about stamp duty
- Kirstie Allsopp, presenter of Location, Location, Location, told a Treasury Committee that stamp duty should be abolished.
- She argued the property tax is damaging the housing stock for first-time buyers and pushing young people into buying homes they cannot truly afford.
- Allsopp also stated that the high cost of stamp duty encourages people to alter smaller homes rather than moving into bigger abodes.
- Her views were supported by Professor Tim Leunig, who noted that the current system incentivises first-time buyers to purchase larger, more expensive homes to avoid paying stamp duty multiple times.
- The Treasury Committee is currently exploring potential property tax changes ahead of the Chancellor Rachel Reeves's Budget on 26 November.