Oral Answers to Questions Debate

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Department: HM Treasury

Oral Answers to Questions

Stephen Metcalfe Excerpts
Tuesday 22nd May 2018

(6 years, 5 months ago)

Commons Chamber
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Lord Hammond of Runnymede Portrait Mr Hammond
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Once we have left the European Union the money that was reaching the UK from EU sources will be allocated to the UK shared prosperity fund, and over the course of this year we will consult on both the distribution and the application of those funds and the size that that fund should be.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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9. What steps he is taking to support first-time home-buyers throughout the UK.

Mel Stride Portrait The Financial Secretary to the Treasury (Mel Stride)
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In the last Budget we abolished stamp duty for first-time buyers for the first £300,000 of a property’s value up to £500,000 in total. That has meant that 95% of first-time buyers have paid less stamp duty and a full 80% of first-time buyers have paid no stamp duty at all.

Stephen Metcalfe Portrait Stephen Metcalfe
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Last November the Chancellor announced an ambitious package to tackle the broken housing market. How many first-time buyers have benefited from that package, particularly in Essex, and where can people find further information about this so we can make hopefully impressive numbers even greater?

Mel Stride Portrait Mel Stride
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Some 69,000 individuals have already benefited from this vital tax relief and over 1 million will do so over the coming five years. We do not have disaggregated data specifically for Essex, but I can tell my hon. Friend that within the south-east 12,900 individuals have benefited from first-time buyer tax relief.