Under Labour, Stamp Duty has become a major barrier for those looking to get onto the housing ladder.
- More people are paying it - research by the Halifax bank shows that homebuyers in nearly a third of local authorities now face a Stamp Duty bill equivalent to a fifth of average local full-time earnings. Five years ago, this was the case in only 5% of local authorities.
- And the cost has risen - in 1997, the average homebuyer did not pay any Stamp Duty on their first home; but today’s first-time buyers have to pay an average of £1,600 to the Treasury. This represents a huge outlay at a time when cash is already tight.
We believe in encouraging homeownership, not putting obstacles in people’s way. And that is why the next Conservative Government will abolish Stamp Duty for 9 out of 10 first-time buyers.
Anyone who buys their first home for under £250,000 will pay no Stamp Duty at all. This will take 200,000 people a year out of Stamp Duty altogether.

You can get it if you really want - Conservative Party

A much needed aid to first time buyers who need every penny to get on the housing ladder not to mention the difficulty of obtaining a mortgage in the current economic climate .