Geoffrey Clifton-Brown
Main Page: Geoffrey Clifton-Brown (Conservative - North Cotswolds)Department Debates - View all Geoffrey Clifton-Brown's debates with the HM Treasury
(1 day, 16 hours ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Sir Mel Stride
Yes, and I thank my hon. Friend for the excellent work that she has been doing on the Committee, particularly when she chaired it in the last Parliament.
Sir Geoffrey Clifton-Brown (North Cotswolds) (Con)
Does my right hon. Friend agree that this Government are not only taxing young people’s jobs but taxing their chances of owning a home through the increase in stamp duty and the rumoured increase on the capital gains on principal private residences?
Sir Mel Stride
My hon. Friend is absolutely right. The reasons that we need to abolish this tax include the fact that it stands in the way of younger people getting on to the housing ladder. To use the words of Paul Johnson, it “gums up” the entire system of house purchasing in our country. He said:
“It may look like a tax on wealthy people who move house but it also acts to reduce effective supply for everyone.”
That includes first-time buyers.