Stamp duty abolition isn’t just desirable it’s an economic necessity, says Alex Michelin

Ask any first-time buyer, young family or downsizing pensioner what’s stopping them from moving home and you’ll hear the same answer: Stamp Duty Land Tax (SDLT). This once marginal transaction cost has evolved into a structural impediment to the UK housing market, throttling mobility, discouraging movement and stifling productivity and economic growth.

Let’s start with the numbers. SDLT receipts reached £11.6bn in 2022-23, nearly double what they were a decade ago. This has come not from a booming market, but from bracket creep; as house prices rise, more buyers are pushed into higher tax bands. In London, where the average house price is £564,000, even modest family homes incur hefty SDLT charges. A family upgrading to a £1.2m home, a typical four-bedroom house in Zones 2-4, faces a tax bill of £61,250 before a single box is packed.

This cost has a chilling effect. In 2023, just 1.01m transactions........

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