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MPs to debate stamp duty as Chancellor considers extension

Chancellor Rishi Sunak is considering an extension to the current stamp duty holiday according to media reports today - and the House of Commons has confirmed there will be a debate on the issue.

Sunday Times political editor Tim Shipman - regarded as one of the best informed political journalists with multiple contacts in government - writes: “Contrary to some reports [Sunak] is considering an extension to stamp duty cuts.”

However, this may be tempered by the possibility of other property taxes emerging in the future.


Shipman says the upcoming Budget on March 3 is unlikely to produce permanent changes to property taxation but he warns that the Treasury is considering long-term radical options.

Ending stamp duty completely is being seen as one possibility and Treasury minister Jesse Norman - who reports to Sunak - has asked for more work to be done on an alternative. 

Shipman says some Conservatives feel SDLT currently acts as a barrier to families trading up to a bigger home, and older owners trading down and making the housing market more flexible.

An alternative may take the form of “a proportional property tax, levied on the existing value of homes” and could be an alternative to both stamp duty and council tax in years to come.

“Polls show both taxes are unpopular but such a move would be controversial in the Tory shires since those with expensive homes in southern England would be likely to end up paying more” adds Shipman.

Meanwhile the online petition, which at the end of last week passed a critical 100,000 signature threshold, has now triggered a parliamentary debate.

A response to the petition - which you can see here - says: “Parliament considers all petitions that get more than 100,000 signatures for a debate. Waiting for two days for a debate date.”

The 100,000 mark means that Parliament needs only to consider having a debate - but this announcement confirms one will take place.

The petition is currently running at well over 109,000 signatures.

Poll: Should stamp duty...


  • Rob Hailstone

    Great job breaking this news Graham.

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    Graham “Finger on the pulse of the property market” Norwood - This should be good news for beleaguered conveyancers and a relief to many homebuyers - Let’s hope so.

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    Has this just been triggered by the 100,000 signatures (a legal requirement) or is a genuine extension being considered?

  • adrian black

    If the conservatives don't shift from transaction taxes to usage taxes labour will, obviously should they get into government. It's an astute move to have this debated to test political support and if the tax is changed will the home counties and Tory shires really vote labour as a reaction ? I doubt it. We all know taxes must rise to reduce the debt.

  • Stephen Hayter

    And few would complain if they were fair and proportionate.

  • Tim Sample

    It would certainly keep the momentum in the market and encourage any one sitting on the fence to possible rethink and move.


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