Should the UK government abolish stamp duty on home purchases?

Recent debate over stamp duty has intensified after MPs warned that the tax may be reducing housing affordability and slowing the property market.

Stamp duty is paid when buying property above certain thresholds, and recent rule changes mean more first time buyers are now affected.

Supporters of abolition argue that the tax discourages home ownership, reduces mobility, and makes moving more expensive.

Many economists and property groups have called for significant reform or removal of the tax.

Critics argue that abolishing stamp duty could increase house prices and reduce government revenue.

They say wider housing supply reforms may be more effective.

The debate has raised questions about whether the UK government should abolish stamp duty.