The Chancellor promises a stamp duty freeze

Chancellor Jeremy Hunt has pledged “not to increase the rate or level of stamp duty” as part of a “family home tax guarantee”.

In an opinion piece for The TelegraphChancellor Jeremy Hunt (depicted) said the guarantee is a commitment not to increase the number of council tax bands or carry out a revaluation of council tax.

Furthermore, there is an obligation to maintain the private residential exemption to protect homes from capital gains tax, and not to increase the rate or level of stamp duty.

He called on the Labor Party to join the Conservative Party in its pledge, adding that the party was not “scoring party political points” and that it wanted the rival party “to say they will put families first.” and higher taxes come second.”

“Families should have peace of mind that the government will not burden them with surprise tax increases. That is why we need the Family Tax Guarantee,” Hunt noted.

He said that in analyzing the costings of Labor proposals, which he said were done by Treasury officials and in some cases cost Labor itself, Labor’s “spending commitments and revenue boosters add up to a black hole of £38.5 billion around the world. next four years”.

“The impact of this unfunded expenditure would be equivalent to a tax increase of £2,094 per working household. And that is on top of the tax increases that Sir Keir has already said he wants to impose,” Hunt said.

The Conservatives came under fire this week for promoting potentially misleading claims when Prime Minister Rishi Sunak repeated the £2,094 figure 11 times in the debate earlier this week.

Hunt said: “So the question for Sir Keir to answer is: if the figure of £2,094 is wrong, which of the policies and charges is he disputing? What is the actual amount of tax increases he will impose on working people? It is a question Rishi Sunak asked him twelve times in the ITV debate on Tuesday evening. And twelve times Sir Keir could not and did not answer.

“Sir Keir is fooling the British public by saying he will not increase taxes, while making promises that require a tax increase of more than £2,000 for every family in Britain.”

Related: Labor promises Freedom to Buy to make the dream of home ownership a reality