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Conservatives bring forward Senedd motion to scrap Welsh stamp duty
The Welsh Conservatives have put forward a Senedd motion calling on the Welsh Government to support their calls to scrap stamp duty for primary residences.
In October, the Welsh Tories confirmed they would scrap the Welsh version of stamp duty for primary residences in Wales if the party came to power in the Senedd in May.
It came after Conservative Leader Kemi Badenoch announced that a future Conservative UK Government would abolish stamp duty for homebuyers in England.
In Wales, Land Transaction Tax is a devolved tax paid by the buyer when purchasing freehold or leasehold property or land above a certain price threshold.
It replaced the UK-wide Stamp Duty Land Tax in April 2018 and is collected by the Welsh Revenue Authority.
The Tories say Wales’ Stamp Duty raises around £147 million per year.
The party has previously called on the Welsh Government to use unallocated funding in their Budget to cover the cost of abolishing the tax.
The Welsh Conservatives have accused the Labour Government in Wales - with the support of Plaid Cymru - of making home ownership "more difficult and unaffordable" for young people, and downsizing a "great challenge" for older people.
In the Senedd on Wednesday (January 14), the party will lead a debate calling on the Welsh Government to axe the policy.
Shadow Cabinet Secretary for Local Government and Housing, Joel James, said: "The Welsh Labour Government, with the support of Plaid Cymru, has made home ownership more and more difficult and unaffordable for young people, and downsizing a great challenge for older people.
"The aspiration-sapping Welsh Stamp Duty must be scrapped to get our housing market and economy moving, and to give people the dignity of owning their own home."
Also commenting, Shadow Finance Secretary, Sam Rowlands, said: "Land Transaction Tax is yet another tax from Labour and Plaid that is putting home ownership out of out of reach for far too many young people and Land Transaction Tax stands in the way of mobility in our housing market.
"That’s why a Welsh Conservative Government will scrap this tax and put more money in people’s pockets."
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