Badenoch Pledges Stamp Duty Abolition Amid Cost Questions

Kemi Badenoch pledged at the Conservative conference to abolish stamp duty on primary homes in England and Wales, arguing the tax blocks social mobility; exemptions would remain for second homes, business and overseas buyers, and Scotland’s devolved LBTT would not be affected unless Scottish Tories scrap it. The party estimates the measure would cost about £9bn a year and says it would be funded from up to £47bn of planned cuts; the Institute for Fiscal Studies estimates the cost at roughly £4.5bn. Badenoch framed the move within a “golden rule” to split savings between deficit reduction and tax cuts/growth and announced other measures including a £5,000 rebate for young people, business-rates relief for high‑street shops and reversals of several Labour policies. Economists and commentators welcomed the focus on homeownership but warned the savings are vague and questioned how the cuts would be delivered and the speech’s overall credibility ahead of the next election.