Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, if she will introduce legislation to prohibit non-resident foreigners from purchasing residential property in the UK.

The government made clear in its manifesto that we would increase the non-resident Stamp Duty Land Tax surcharge by one percentage point.

At the Budget, we decided to go further and instead increased the Higher Rate for Additional Dwellings by 2 percentage points to 5%. This will raise £310 million by 2029-30 and go further than the manifesto commitment to rebalance the housing market.

Overseas entities who want to buy, sell, or transfer property or land in the UK, must register with Companies House and tell us who their registrable beneficial owners or managing officers are.