Kemi Badenoch reinforced Conservative support for abolishing stamp duty during a visit to an estate agency in Surrey on Monday, alongside former chancellor Jeremy Hunt and shadow business secretary Andrew Griffith.
The Tory leader first unveiled the policy in a surprise announcement at the close of her conference speech in October, presenting it as a flagship pledge to boost home ownership and revive housing market activity. Since then, the proposal has gathered momentum within the party and among voters, helping to energise her leadership.
Badenoch received a standing ovation from activists at last year’s conference in Manchester when she declared the move would help “achieve the dream of home ownership for millions”.
She said scrapping stamp duty would “unlock a fairer and more aspirational society” and benefit people of all ages.
At Cavender Estate Agents, Badenoch and Hunt discussed conditions in the housing market, barriers to transactions and the role tax reform could play in increasing mobility.
Director Mark Cavender told EYE: “We were visited at our new branch in Godalming by Kemi Badenoch, Jeremy Hunt and Andrew Griffith who wanted to interview me.
“They wanted my opinion on the housing market, how abolishing stamp duty would boost the market and a brief discussion about the Renters Rights Bill.
“They were accompanied by a lot of media.”
The property industry has broadly backed reform of the stamp duty system, with many professionals – including estate agents – urging chancellor Rachel Reeves to use last November’s Autumn Budget to address the tax.
Agents have long argued that stamp duty discourages mobility by adding a significant cost to moving home.
Rightmove’s Colleen Babcock said: “We’ve been calling for stamp duty reform for some time, as it remains a major barrier for many people looking to move.”
