Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of introducing a proportional property tax as a replacement for (a) stamp duty and (b) council tax.

Council Tax and Stamp Duty Land Tax (SDLT) are reliable and important sources of revenue for both the Exchequer and Local Authorities. They raise over £50 billion each year to help pay for essential public services. Any reforms to the property tax system would have to carefully consider impacts on the Exchequer and Local Government finances, as well as impacts on taxpayers. The Government has no plans to introduce a proportional property tax. The Government keeps all taxes under review as part of the usual tax policy making process.