The Conservative Party has unveiled proposals to scrap stamp duty and implement significant changes to housebuilding regulations. Shadow Chancellor Andrew Griffith announced the plans at the Conservative Party conference in Birmingham, describing them as the “biggest deregulation project in a generation.”
A key part of the proposals is the abolition of stamp duty on property purchases. The party also intends to scrap the Future Homes Standard and proposed rules for low-carbon heating technology in new homes. They plan to replace Section 106 agreements and the Community Infrastructure Levy with a single developer charge, aiming to simplify the system and accelerate development.
The Conservatives claim these reforms could reduce the price of a new-build home by up to £50,000. However, property industry figures have questioned this claim. Timothy Douglas from Propertymark welcomed the focus on housing supply but urged caution over scrapping the Future Homes Standard and questioned if buyers would see the full £50,000 saving.
Concerns have also been raised by the Federation of Master Builders (FMB) regarding the removal of important safeguards, and by HomeSnag about potential impacts on build quality. Environmental group CPRE also expressed worries about risks to countryside protections.