Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what fiscal steps he is taking to help those who are ready to move on from their first property to move up the housing ladder.

At Autumn Statement 2014 the government reformed SDLT on residential properties, cutting the tax for 98% of buyers who pay it, unless they are purchasing additional property. These changes benefit those who are moving up the housing ladder.

However, the government’s priority remains helping first time buyers because this group are particularly cash constrained. So far, over 240,000 people have benefited from the Stamp Duty relief announced for first time buyers at Autumn Budget 2017.

In all, the government are providing at least £44 billion in financial support for housing over a five-year period to help improve affordability and support homeownership.