Stamp Duty Land Tax

Debate between Connor Naismith and Rebecca Smith

Tuesday 28th October 2025 Commons Chamber

[Connor Naismith]

I thank the hon. Member for that intervention. Look, we will await the Budget to see the OBR’s forecasts, but I will take no lessons from the party opposite on economic credibility. They are the party of Liz Truss, which dragged this country into the economic abyss.

We know that Tory austerity and a lack of investment in our country’s infrastructure are part of the story of why our economic growth and productivity have never recovered since the financial crash in 2008. It seems like the Conservatives want to take us right back to the beginning of that 14 years of chaos, failure and decline. I think my constituents would say no, frankly. What is worse, the Conservatives cannot even tell us with any credibility where the cuts would fall. We have seen this playbook before. They have no credible plan to pay for their promises, just vague talk of savings from the very services that our communities rely on—our schools, NHS and local infrastructure. The Tories have some cheek to come here and talk about home ownership when they manifestly failed to build the homes that our country needs because they presided over a broken planning system that they did nothing to reform.

As I mentioned earlier, my constituents have not forgotten what Liz Truss’s mini-Budget did to their mortgage payments. During the election campaign, I spoke directly with families in Crewe and Nantwich who had seen their monthly costs soar overnight. I distinctly remember speaking to a man who told me that his mortgage payments had risen by £1,000 a month and that he had been forced to sell his home as a result. If we want to examine the reality beyond the rhetoric of the modern day Conservative party’s record on home ownership, it is that: failure to deliver, soaring prices and broken dreams.

[Rebecca Smith (South West Devon) (Con)]

The hon. Member talks about broken dreams, but no Government Member has spoken about the hard-working families in the middle—not the ones struggling to buy their first home and not the so-called rich people at the top who in the Government’s world this will benefit, but the hard-working families, who he has no doubt spoken to, who cannot buy a property with an additional bedroom for their growing family because of stamp duty. As my hon. Friend the Member for South Northamptonshire (Sarah Bool) referenced, that stamp duty is the difference between the price of the home they wish to buy and the dream of actually succeeding in doing so.

[Connor Naismith]

It was those families in the middle who suffered most at the hands of Liz Truss’s mini-Budget, so I would expect Conservative Members to apologise to those families in my constituency for their record on the economy over the past 14 years.

Compare all that with what Labour is delivering in government. We are getting Britain building, and not just the homes we need. In Crewe and Nantwich, we are getting a new hospital at Leighton, the new youth zone in Crewe town centre, a new history centre and many more things that our community will benefit from. The choice ahead at the Budget is clear: stick with Labour’s plan for national renewal or return to the chaos and cuts of the past, whatever shade of blue that comes in. Labour chooses a fairer economy, one that works for working people and rewards them. That is what we are building in Crewe and Nantwich and across Britain. The people of Crewe and Nantwich deserve better than unfunded tax cuts and economic instability. They deserve a Government that invest in the future, protect their services and build a Britain for all.

Renters' Rights Bill (Second sitting)

Debate between Connor Naismith and Rebecca Smith

Committee stage
Tuesday 22nd October 2024 Public Bill Committees

[Connor Naismith (Crewe and Nantwich) (Lab)]

Q My question goes back to the decent homes standard, and the first part of the question is potentially more for Suzannah. What insights do you have into the impact of the application of the decent homes standard in the social rented sector and then, potentially, on everyone else? How do you see it translating across to the private sector, in terms of the impact on the standard of homes there?

Suzannah Young: We believe that everyone has the right to a warm, dry, safe, secure and affordable home, and social housing has a greater proportion of decent homes than housing of any other tenure. That could suggest that having a decent homes standard helps to bring up standards in housing. We also recognise that housing associations exist to fulfil a social purpose, and we are rightly held to a higher standard. We welcome the Government’s commitment to reviewing the decent homes standard. We are pleased to continue to work with the Ministry of Housing, Communities and Local Government as this develops.

In terms of some feedback for the private rented sector, we agree that it is important to have a clear, modern and meaningful standard that reflects what residents would expect a decent home to be. It is also important that all landlords should have a clear understanding of the condition of all their homes. In the social sector, we are doing work to develop a more consistent approach in that area, as part of our response to “The Better Social Housing Review”. It would need to be something that private landlords were able to do as well to bring up standards.

Specifically—this has been mentioned in terms of the private sector—it is important to recognise that the housing association sector faces multiple and competing pressures, with budgets that are already stretched. We would like to see investment in existing homes at the same time as development of the desperately needed new and affordable homes in the Government’s long-term housing strategy. I suggest that similar attention would be needed for the private sector.

Timothy Douglas: May I pick up on that point? That argument was used in Scotland on the Cost of Living (Tenant Protection) (Scotland) Act 2022. I gave evidence on that legislation two or three times to the Committee up there. In the end, the argument was that the cap was lifted for the social rented sector because it needs to plan for its investment. That is the crux, and it goes back to my previous points—there is no parity here with the incentives, the business planning and the costs that private landlords are facing. We have to have that parity. If the legislation is extending across, the funding needs to be the same. We have to have parity in the investment, the caps and everything else—that needs to be the same. We need that review into all the taxes and costs impacting private landlords, because, quite frankly, we are not getting legislation from either Government Department—the Treasury or MHCLG—that understands the investor appetite for the private rented sector. This legislation is not helping.

[Rebecca Smith]

Q This is a question mostly for Timothy. At the beginning of your contribution, you mentioned the unintended consequences we see from the Bill, and you gave the example of landlords departing the market. I know there is often the argument that they are still providing a home somewhere else if those properties get purchased. I am interested in the statistics you might have—representing both estate agents and landlords—on the impact on the housing market in full. How many properties stay in the private rented sector? Do they move from one landlord to another, or is that ultimately a property that is then lost permanently from the private rented sector?

Timothy Douglas: It is difficult to say. We know anecdotally that if you are in an agent branch and a landlord wants to sell, the branch would try to push that property towards a bigger landlord who could perhaps take it on before it goes on to the open market. We know that that happens in order to retain property. Anecdotally, we know that, because of legislative uncertainty and costs of legislation, as well as the cost of living, which has also hit landlords with their costs, landlords have left the sector—I gave the example of the agent in the west midlands previously. However, it is difficult to ascertain hard data across the board. That could be another recommendation to the Government: to come back with an annual review to Parliament on the state of the private rented sector.

Suzannah Young: May I come in on that?