Tories pledge to raise Stamp Duty threshold to £250,000

Shadow chancellor George Osborne has pledged to raise the Stamp Duty threshold to £250,000 if the Conservative Party wins the election.

The party outlined its plans last week in a report entitled A New Economic Model.

The Tories want to increase the Stamp Duty threshold from £125,000 to £250,000 and raise the Inheritance Tax threshold to £1m. Osborne has also pledged to abolish what he calls the failed tripartite system of regulation and put the Bank of England in charge of prudential supervision.

The party says it would restore the Bank’s role in monitoring the overall growth of credit and debt in the economy while a new Consumer Protection Agency would take over responsibilities from the Financial Services Authority.

Robert Sinclair, director at AMI, says: “The Stamp Duty holiday was welcome and the Tory plan to raise the threshold would provide a boost for first-time buyers while helping first-time movers too.”