Asked by: Patrick Hurley (Labour - Southport)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of reforming Stamp Duty Land Tax.
Answered by James Murray - Financial Secretary to the Treasury and Paymaster General
Stamp Duty Land Tax (SDLT) is an important source of Government revenue, raising around £14 billion each year. The structure of SDLT ensures that those buying the most expensive properties contribute the most.
Asked by: Patrick Hurley (Labour - Southport)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has had discussions with mutual building societies on their role in increasing sustainable homeownership and supporting economic growth.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Building societies play an important role in supporting home ownership and economic growth. Ministers and officials regularly engage with building societies and the wider mutuals sector to discuss their business, understand the barriers they face and consider opportunities to support their growth and better serve their members.
The Government is committed to creating the conditions that enable the sector to flourish. In December 2025, the Prudential Regulation Authority and Financial Conduct Authority published their joint Mutuals Landscape Report, which set out the sector’s regulatory framework and identified opportunities for growth-focused reform. As part of that initiative, the Prudential Regulation Authority removed the Building Societies Sourcebook, supporting a more proportionate regulatory framework for building societies.
In addition, the Government laid a statutory instrument before Parliament in July 2026 that would support the building society sector by reducing unnecessary administrative burdens and providing greater funding flexibility.
Asked by: Patrick Hurley (Labour - Southport)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the current regulatory framework for mutual building societies.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Building societies play an important role in supporting home ownership and economic growth. Ministers and officials regularly engage with building societies and the wider mutuals sector to discuss their business, understand the barriers they face and consider opportunities to support their growth and better serve their members.
The Government is committed to creating the conditions that enable the sector to flourish. In December 2025, the Prudential Regulation Authority and Financial Conduct Authority published their joint Mutuals Landscape Report, which set out the sector’s regulatory framework and identified opportunities for growth-focused reform. As part of that initiative, the Prudential Regulation Authority removed the Building Societies Sourcebook, supporting a more proportionate regulatory framework for building societies.
In addition, the Government laid a statutory instrument before Parliament in July 2026 that would support the building society sector by reducing unnecessary administrative burdens and providing greater funding flexibility.