The UK Parliament Housing, Communities and Local Government Committee has published a report on the affordability of home ownership that urges the government to reform Stamp Duty Land Tax as part of a wider package to help first-time buyers. The committee recommends launching a consultation before the end of 2026 on alternatives to the current tax, and says any reform should be considered alongside council tax changes rather than in isolation. The report says the consultation should examine options such as a revenue-neutral replacement, lower rates to increase transactions, revised band thresholds that better reflect local property prices, and updated reliefs and exemptions. It says the review should assess revenue-raising capacity, effects on property market friction, progressiveness, and fairness. Beyond stamp duty, the committee calls for clearer and stronger powers for councils to recover long-term empty homes, annual homebuilding targets for each remaining year of the Parliament, six-monthly updates on actions to raise private sector building rates, and a new homeownership savings product to replace the Lifetime ISA without a static property price cap.
UK Parliament2026-06-08
UK Parliament Housing, Communities and Local Government Committee calls for consultation on stamp duty alternatives by end-2026
The UK Parliament Housing, Communities and Local Government Committee has urged the government to reform Stamp Duty Land Tax as part of wider support for first-time buyers, including a consultation on alternatives by 2026 and coordination with council tax changes. The report calls for options such as a revenue-neutral replacement, lower rates, revised bands and updated reliefs, and for assessment of revenue, market friction, progressiveness and fairness. It also recommends stronger council powers over long-term empty homes, annual homebuilding targets, and a new homeownership savings product to replace the Lifetime ISA without a static property price cap.