Shadow Housing Secretary Katie Lam has presented proposals to abolish Stamp Duty and scrap the Future Homes Standard. Speaking at the Conservative Party annual conference, Ms Lam also detailed plans to reduce new-build housing costs by up to £50,000.
Further proposals include replacing Section 106 and the Community Infrastructure Levy with a single levy, and reducing housebuilding regulations.
Regarding the Renters' Rights Act, Ms Lam reportedly stated, "I don't care where it comes from. It's got to go," at a Centre for Policy Studies fringe event. The Conservative Party later clarified that her comments referred to challenges the legislation has created for landlords, confirming there is no formal policy plan to scrap the Act.
Propertymark's Head of Policy and Campaigns, Timothy Douglas, welcomed the focus on increasing housing supply and simplifying planning. He noted that scrapping Stamp Duty "would remove a significant barrier to moving home and could help improve mobility across the housing market," but cautioned that abolishing the Future Homes Standard requires careful consideration.
Propertymark has indicated that the claimed £50,000 saving on new-build homes will need verification to determine if such savings would reach consumers. Mr Douglas emphasised that "policy makers must not make cost saving at the expense of quality and standards, a balance will need to be struck."