Johnson doubles down on stamp duty idea; Hunt reveals housing plan

Prime minster hopeful Boris Johnson has reiterated his wish to cut stamp duty tax in an interview with The Telegraph.

“I think particularly in London there is clearly a problem with stamp duty and it needs to be addressed,” he told the paper, but further details were scarce.

“I’m not going to put a figure on how much we are going to cut but we will certainly be looking to do that because I think actually you can do that in such a way as to increase revenues if you get it right because the market is locked up at the moment,” he said.

Johnson also returned to his idea for raising national insurance thresholds, something he talked about at the same time as raising the higher tax rate from £50,000 to £80,000 back at the start of June.

“I cut our share of council tax by 20 per cent when I was mayor, I believe in cutting taxes wherever you can, and that is certainly what we’ll do,” he told The Telegraph, before adding that he wants people “to have higher pay generally.”

On the topic of a possible general election, Johnson insisted that he is the right person for the job.

“I will make the moral case for conservatism by supporting wealth creation and supporting enterprise and people who work hard, get up at 04.30 in the morning to get their businesses ready, by doing that you’re also supporting thereby the creation of the wealth that we’re going to need for great healthcare, great education, fantastic infrastructure,” he told the paper.

Johnson is not the only one hoping to excite the housing market, however. Writing in The Sun, Jeremy Hunt revealed ‘Right to Own’, a plan to deliver 1.5 million “cheaper” properties over the next decade.

This would be accomplished, Hunt says, by allowing councils and Homes England to buy land and commission building work.

He said, “Margaret Thatcher had a policy called ‘Right to Buy’ that got millions on to the housing ladder for the first time.

“Mine… will do the same. I will take advantage of the massive leap in land value that comes from councils granting planning permission by ensuring the benefit of it goes directly to young people, rather than into the pockets of developers.

“’Combined with new planning regulations to allow people to build up, with more storeys on top of apartment blocks, this will deliver the new homes we need… giving a whole generation a leg up on to the housing ladder.”

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