Graham Stuart

It is a pleasure to take part in this debate, and I think the quality of contributions from both sides has been excellent—which has not always been the case over recent months. No one in Beverley and Holderness likes paying stamp duty—not first-time buyers in Beverley and not grandparents seeking to downsize in Hedon. Of course, as we know, it is not even popular with the right hon. Member for Ashton-under-Lyne (Angela Rayner). Stamp duty was first introduced in 1694 to fund our war against the French. While we may have our differences with our friends across the channel, when I checked this morning, I was pleased to find that we are not currently at war with France. What began as a temporary wartime measure—raising £91,206, 10 shillings and fourpence in 1702—has become a permanent tax. But it is more than just a tax; it is a barrier to opportunity for young couples in Sproatley in my constituency, an impediment to aspiration in Aldbrough, and a block on families in Withernsea trying to climb the property ladder. We, the Conservative party, have always been the party of opportunity, of home ownership and of family aspiration. That is why, at the next election, we will abolish this three-century-old tax. There have been welcoming signs that I did not expect to hear today: too often, colleagues on the Government Benches just slavishly repeat their speaking points, but we have heard thoughtful speeches and a recognition that stamp duty is a harmful tax. They may question our way of implementing the policy, but they recognise that. We will abolish this three-century-old tax and unlock the housing market in Beverley and Holderness—and beyond. I encourage the Chancellor, and colleagues behind her, to follow our lead.