Bradley Thomas

It is a pleasure to speak in this debate on this important topic, Madam Deputy Speaker. It is one that I am passionate about. I got involved in politics to make people’s lives better, and to be on the side of those who work hard, do the right thing and aspire for themselves and their family. That is the fundamental point at the core of this argument. My hon. Friend the Member for Windsor (Jack Rankin) made a great point when he said that this is a moral mission. It is a moral mission to be on the side of those who are aspirational, and to unlock the hopes and dreams of a generation who want a tangible stake in society but have great fears that they will never have it. Stamp duty, for many, is a tax on that dream home, on that bridge between where they are today and where they want to go tomorrow, particularly for their family. We have heard a lot in this debate about first-time buyers, and it is right that we focus on them; it is particularly shameful that one of the first acts of this Labour Government was to lower the threshold at which stamp duty was imposed on those first-time buyers. But once a first-time buyer has been in their home for a few years and had a child, and maybe a second, and wants to move up the property ladder into a house that will better meet their needs, that is when this tax really starts to bite. Constituents have approached me to say that they are able to afford a mortgage on their next home, and have even identified one that they want to move into, but the stamp duty prevents them from moving. What strikes me about this argument between the two sides of the House—and, in fact, between Opposition parties as well—is that many make the case that if we removed stamp duty, it would cause house prices to rise. If it was removed as a temporary measure, there would be a chance of that happening, but if it was removed in perpetuity, the housing market would regularise without a huge increase in prices. That is the key to unlocking the aspiration that so many have for themselves and their family. I do not believe that Labour Members have particularly nefarious intent; I can only conclude that their position really does demonstrate the politics of envy. It is a fact of life that some in society will always have more wealth than others—the scale is always relative—but even if those at the upper end of the wealth scale benefit from the abolition of stamp duty, those further down the chain will also benefit. The great reality of this proposal is that it is universal in its application, so everyone will benefit. This is fundamentally about unlocking mobility and the aspirations of so many. It applies not just to first-time buyers and those wanting to move up the ladder, but to those who want to downsize, whom we have heard so much about today. There are plenty of constituents across Bromsgrove and the villages who are asset-rich but cash-poor, and who are trapped in larger houses but would like to downsize, should the fiscal incentive be there for them to do so. Stamp duty, in the form of tens of thousands of pounds, is absolutely key in so many cases.