Rachel Taylor

I will make some more progress. The average property sale in my constituency would see buyers buying for the second or subsequent time paying between £2,000 and £3,600. That is not an insignificant amount of money for sure, but it is just a tiny fraction of the cost of buying an average home. Comparing that with the kind of house bought by, say, the average Tory party donor—perhaps a £2 million property in central London—we see that such a purchase would attract stamp duty of more than £150,000. That is who this massive Tory tax cut would be helping—not first-time buyers in my constituency, but London-based millionaires. Let us be clear that this whopping Tory tax cut would overwhelmingly be spent on the wealthiest in our society, while sucking money out of our public services and local communities. It would do nothing to help young people to get a foot on the housing ladder, while giving a whopping tax break to some of the richest people in our society. Let us be absolutely clear that this is not a tax cut for working people; it is a tax cut for the wealthy. It would take money out of our public services and our local communities, while doing nothing to help young people get a foot on the housing ladder. The Conservatives claim that they have changed, but this latest plan shows that they have not learned a thing. It is the same failed ideology, the same unfair priorities—austerity 2.0—and would cause the same harm to my constituents in North Warwickshire and Bedworth and right across this country.