Stamp Duty Land Tax (Temporary Relief) Bill

Virginia Crosbie Excerpts

2nd reading & 2nd reading: House of Commons
Monday 13th July 2020 Commons Chamber

[Virginia Crosbie (Ynys Môn) (Con)]

I have to declare that I have first-hand experience; I was helped to buy my first flat in the 1990s when the Chancellor was Nigel Lawson and the Conservatives introduced a stamp duty holiday then. My flat was tiny and it was right on the top floor—there was no lift—but it was my own.

In the wake of the covid-19 lockdown across the UK, many sectors are facing significant challenges, and the UK Government have done and continue to do much to help across the board. My constituency, like many coastal communities in the UK, has been particularly badly hit because it is highly reliant on tourism income. The UK Government have provided a range of support to help people survive the impact of the crisis, through stage 1 of their recovery plan, from furlough payments to resilience funds. Stage 2 of the plan encompasses a number of different packages to support the economy as we emerge from lockdown, including the kick-start scheme to help 16 to 24-year-olds into employment by paying the first six months of their wages and the stamp duty land tax temporary relief that we are debating today.

Coastal communities such as mine, which are highly tourism dependent, face two significant housing-related challenges as we emerge from lockdown. The first is the challenge of a significant downturn in direct income due to the shortened holiday period this year, which will have an impact on the ability of local people to pay mortgages and to purchase property. The second, more hidden issue relates to holiday homeowners. In some coastal areas, the level of second home ownership is high. Many of these owners have been hit by having no holiday rental income, while being expected to pay higher premium council taxes and potentially having reduced income from their primary employment. That brings a risk of a surplus of properties coming on to the local market, resulting in a localised property price crash. That is one issue the Bill will help to address. It will give a much-needed boost to the housing market by significantly reducing the stamp duty on property purchases, and the Chancellor’s decision to offer this temporary relief at a time when it is so needed will make a great contribution to restarting the UK economy.

I wish to end by thanking the Treasury and welcoming the Bill. I urge the Welsh Government to follow the example set by the UK Government and introduce a similar scheme in Wales, to stimulate the housing sector, so that my constituents and those all across Wales can be supported at such a crucial time.

Economic Outlook and Furlough Scheme Changes

Virginia Crosbie Excerpts

Tuesday 16th June 2020 Commons Chamber

[Virginia Crosbie (Ynys Môn) (Con)]

I thank the Jo Cox Foundation for all it does.

My constituency is dependent on tourism and hospitality, a sector that was first to be hit by the crisis and is likely to be last to open up. Will the Minister confirm that his Department is looking at new additional measures to support businesses, such as Church Bay Cottages and Catch 22, that have worked so hard to support their community at this exceptional time?

[Jesse Norman]

I thank my hon. Friend for bringing to the House’s attention and mine the delights of Ynys Môn. As a Herefordian, I am as acutely aware of the importance of tourism to many of our most beautiful areas as she is, but we continue to look at the sectoral inputs, as I have described. In fact, as she will be aware, tourism, hospitality and leisure have already received quite a substantial amount of additional support from the Government. We continue to keep the situation under review.

Economic Update

Virginia Crosbie Excerpts

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

We have taken steps to strengthen the safety net. On deferring tax payments, that is something that is able to happen through Time To Pay. I urge people to contact Time To Pay. The details are available online. HMRC has 2,000 people standing by to talk to individuals. If tax deferrals are needed, it stands ready to negotiate and agree those.

[Virginia Crosbie (Ynys Môn) (Con)]

On behalf of my constituents, I welcome the significant package of financial measures the Government have made available today. Businesses in Ynys Môn, such as Seawake, Gwynedd Shipping and the restaurant Catch 22, have contacted me today, desperate for the Government to take action. Will the Chancellor join me in urging the Welsh Government to make this additional funding available as quickly as possible to small businesses across Wales so they can survive?

[Rishi Sunak]

My hon. Friend is right to highlight the importance of speed in Wales and everywhere else. That is why we have taken steps to make Barnett consequentials available in advance as quickly as we can, so that all devolved authorities can plan and execute their plans expeditiously.