Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make it his policy to introduce a freeze on (a) stamp duty holiday and (b) rents to help the cost of living.

On 23 September 2022, the Chancellor announced a permanent cut to Stamp Duty Land Tax (SDLT). The Government has increased the nil-rate threshold for residential SDLT from £125,000 to £250,000 as part of the Growth Plan. The nil-rate threshold for first-time buyers has also been increased from £300,000 to £425,000. The maximum property value for which First Time Buyers Relief can be claimed increased from £500,000 to £625,000. The Government keeps all taxes under review.

The Government does not support the introduction of rent controls in the private rented sector to set the level of rent at the outset of a tenancy.