Stamp Duty Land Tax (Reduction) Bill, Second Reading

It is now just over one month since the Conservative’s delivered their damaging mini-budget. Despite a wave of U-turns, the Government are continuing with their plan to cut Stamp Duty. Given the economic challenges that the country faces, it would be neither right nor responsible to cut stamp duty at this time. Especially when we have still not had the independent report from the Office for Budget Responsibility.

The Stamp Duty Land Tax (Reduction) Bill had its second reading on 24 October 2022. 

Amendment (a) would have removed the reduction in stamp duty in relation to second homes. I voted to support this Amendment, which was not passed, Ayes: 165 and Noes: 293.

I voted against the Bill, which was passed, Ayes: 288 and Noes: 152. The Bill will now have its third reading.