James Cleverly Proposes Stamp Duty Abolition Amid Leadership Bid

James Cleverly, a contender for the leadership of the UK Conservative Party, has pledged to abolish stamp duty on home purchases for first-time buyers, citing it as a measure to help the economy thrive. This policy proposal comes as part of his campaign to succeed Rishi Sunak as leader of the Conservative Party.

In an interview with BBC Radio 4‘s ‘Today‘ programme, Cleverly insisted that stamp duty “stagnates the market,” and advocated for tax cuts to stimulate economic growth. He argued that maintaining high taxes would ultimately stifle the country’s economic progress, stating, “If we don’t start cutting taxes, we stifle the economy and we will ultimately not be able to thrive as a country.”

This policy proposal has been compared to those of former Prime Minister Liz Truss, whose similar tax policies led to economic instability during her brief tenure in office. Despite being pressed on these comparisons, Cleverly defended his position by questioning, “Are you seriously suggesting a prospective leader of the Conservative Party should not envisage any tax cuts in our society?”

Conservative rivals, including Robert Jenrick, Kemi Badenoch, and Tom Tugendhat, are also set to address the party’s conference, emphasizing various aspects of a ‘New Conservative Party’. Jenrick recently faced criticism for using footage of a deceased soldier in his campaign materials.

Meanwhile, the proposal has sparked debate within the party, as Conservative members gathered at their annual conference to discuss leadership and strategies for revitalizing the party’s fortunes. The event has seen pleas for optimism and fresh approaches, as candidates aim to steer the Conservatives through a challenging political landscape.

The leadership contest has brought forward discussions on a variety of issues, including the economy and immigration, with candidates like Kemi Badenoch emphasizing the need for a cohesive cultural strategy alongside traditional immigration policies.

As the conference progresses, all eyes remain on the leadership hopefuls as they present their visions for the future of the party and the country as a whole.