[TheDaddy]

Originally Posted by Mick

Rachel Reeves has not got a clue. Except it would help them. How can it not?

Stamp duty being abolished, if house prices are a certain price, is a big win for first time buyers...

£125,001-£250,000 @ 2% rate threshold between either £2,500 and £5,000 Stamp duty.

£5,000 is a lot of money saved that can be spent on new moving in costs, furniture etc.

On November 22nd 2017 the Chancellor announced in the Budget...

Abolishing stamp duty land tax (SDLT) on homes under £300,000 for first-time buyers from 22 November 95% of first-time buyers who pay stamp duty will benefit.

First-time buyers of homes worth between £300,000 and £500,000 will not pay stamp duty on the first £300,000. They will pay the normal rates of stamp duty on the price above that. This will save £1,660‎ on the average first-time buyer property.

80% of people buying their first home will pay no stamp duty.

There will be no relief for those buying properties over £500,000.

Those 208 Labour MPs were essentially opposing the above budget measures that were announced.

What first time buyer is paying between 300k and 500k for their first home? The more I hear and think about it, the more i think they're right this is little more than a gimmick and I imagine it was a gimmick when Labour came up with it to and the best answer to the crisis was John Mann's imo at the end of the article

"More affordable homes and decent, stable jobs to allow people to save for them are the way to tackle the housing crisis.