Oral Answers to Questions

Anthony Mangnall Excerpts

Tuesday 11th October 2022 Commons Chamber

[Andrew Griffith]

I can assure the hon. Lady that this Government are going to grow the economy. We will grow the economy by releasing the burden, or the yoke, of taxation, whether that is on ordinary people by cutting the basic rate of tax from 20p to 19p, or by today reversing the increase in national insurance, or by cutting the taxes on the businesses that she has been meeting—I welcome that—by reversing the increase in corporation tax next year.

[Anthony Mangnall (Totnes) (Con)]

6. If he will take steps to help ensure mortgage products are available for first-time buyers in the context of the reduction in stamp duty announced in the growth plan 2022.

[The Financial Secretary to the Treasury (Andrew Griffith)]

This Government will back first-time buyers by increasing the level at which they start paying stamp duty. A young couple can now purchase a property for up to £425,000 without paying tax.

[Anthony Mangnall]

A core tenet of our belief is to help everyone on to the housing ladder, so what assessment has the Minister made since the growth plan about helping people and areas to build houses for those who need and want them?

[Andrew Griffith]

My right hon. Friend the Secretary of State for Levelling Up, Housing and Communities will make a statement to the House in the coming weeks.