Oral Answers to Questions

Debate between Lucy Rigby and Jerome Mayhew

Tuesday 4th November 2025 Commons Chamber

[The Economic Secretary to the Treasury (Lucy Rigby)]

I am indeed aware of this issue. I know that it affects people in my hon. Friend’s constituency and in plenty of other Members’ constituencies, too. I also know how concerned he and other Members are about it. It is for the Financial Conduct Authority to consider whether it is appropriate to take any further steps, but I have asked my officials to engage with the FCA on how it is approaching this.

[Jerome Mayhew (Broadland and Fakenham) (Con)]

Economists have told the Chancellor that stamp duty is a terrible tax because it damages growth. The Government’s response is to double stamp duty on a £300,000 house. Why?