Ms Abena Oppong-Asare
MP for Erith and Thamesmead · Labour · United Kingdom
“I thank the Secretary of State and her team for their work on this matter, but I want to understand better how the Government will look at social media companies to make sure that there is transparency in the algorithms they are using and that they are not continuing to target children.”
“I speak to so many women and girls who have been let down and whose mental and physical health have been damaged. This must stop. The upcoming women’s health strategy must be more than a document; it must be a manifesto for revolutionary change—what is the point of it otherwise?”
“We need every employer to be aware of menstrual health, to have proper systems of support in place in the workplace, to have period products available for free, and to recognise that if a woman needs time off because of their blinding pain, they are not making it up. I welcome the work of the TUC and the trade unions in this area.”
“For women who menstruate, their experience of asking for advice or even medical treatment is routinely dismal—ask any woman from their school days onwards. It is a nightmare of stigma, shame and a failure of the NHS to help.”
“The Royal College of Obstetricians and Gynaecologists further noted: “There is an immense societal pressure on women and girls to conceal their periods due to beliefs that menstruation is unhygienic or unclean, and talking openly about periods is often not considered as a social norm.” We live in a modern-day society with an openness to a…”
“We might wonder, “Why are women of colour waiting longer?” Well, I am afraid to say that we suffer discrimination in the health system. Our pain is dismissed and our concerns are ignored.”
The complete record
Every one of 605 lines we hold for Ms Abena Oppong-Asare, in date order, each linked to its source. Free to read, in full, without an account. Page 10 of 13.
“I appreciate the Minister’s generosity. I just want to put on record the work that Sistah Space has done—particularly in relation to Valerie’s law—for victims of abuse, especially black victims. The Minister’s predecessor started to do some work with me and with Sistah Space before the change of Government. Will she please continue that work?”
“When I met the Minister, he gave me assurances that Southeastern timetables would improve in Erith and Thamesmead. He mentioned this morning that all south-east London MPs had received an update. I am one of the MPs who has not. There is an impact on my constituency, so I would like to know why I have not received that update. My hon. Friend the Member for Eltham (Clive Efford) has kindly shown me the letter, which partially addresses some of the issues with off-peak services on the Bexley line, but does not address over- crowding across the board, most of which occurs during peak times. Will the Minister look into the matter urgently?”
“It is almost two years since the Government announced that LGBT veterans who were shamelessly dismissed from the armed forces due to their sexuality could apply to have their medals restored. My constituent Richard Davidson’s great-great-uncle, Lieutenant Colonel Sidney Rumbold, was a hero who fought for our country in world war one, but who was court-martialled and dismissed because he was gay. Richard has applied to have Sidney’s medals restored, but has not received a response in about a year. Will the Leader of the House ensure that the Minister responsible comes to the House to explain why my constituents and others have not had their hard- earned medals restored?”
“I have noted down some of the things that the Secretary of State has said the Government have done. I do not see anything about what the Government are doing to tackle the shameful waiting list for Access to Work support. Will he tell us what the Government are doing right now to rectify that problem, and will he admit that the Government have let people down?”
“Many will have heard the appalling stories of the forced installation of prepayment meters, which is precisely why Labour had called for a ban. But there is another scandal: the fact that those using prepayment meters pay more for their energy than those paying by direct debit. Why should those with the least pay the most? Labour will end this—will the Conservatives?”
“The Government should be focusing on returning the economy to growth and dealing with the cost of living crisis, not chasing crypto fantasies. Only Labour has a serious plan for growth. A Labour Government will attract fintech companies to the UK by safely harnessing the potential of new technologies and through our ambition to make Britain the home-grown start-up hub of the world.”
“As the Bank of England made clear in its statement yesterday, one of the potential benefits of a state-backed digital pound is that it would have intrinsic value and not be volatile, unlike unbacked cryptoassets. That approach is welcome and contrasts with the Conservative Government’s promotion of the crypto wild west. I know that the current Prime Minister likes to see himself as a bit of a Californian tech bro, but in reality this is naive. This out-of-touch Government continue to waste taxpayers’ money and time on an NFT gimmick, and to promote dodgy stablecoins, despite millions of UK consumers’ savings being put at risk by scams and scandals in the crypto sector, and by the collapse in the value of cryptocurrencies. I hope today’s announcement marks a break with this disastrous approach.”
“We also know that around 5 million people are put off by digital banks. How will the Government ensure that those individuals are included in the Government’s joint consultation with the Bank of England? The Economic Affairs Committee in the other place and officials at the Bank of England itself have warned that a digital pound could pose a risk to households and companies if they all withdrew money from commercial banks at once to put it into a Government-backed digital pound. What work will the Government be doing to put measures in place to protect against that? I now turn to some of the inconsistencies between today’s announcement and the Government’s wider approach to cryptocurrencies.”
“First, how will the Government ensure a digital pound guarantees the privacy of the public? Will people be able to freely access a digital pound from trusted institutions such as the Post Office, and not be forced to pay or hand over their data to tech companies? The take-up of a future digital pound will depend on public trust. People must know that their privacy will be protected. Secondly, what work are the Government going to do to ensure that the potential CBDC does not accelerate financial exclusion? Millions of people are already cut off from the goods and services they need because of the decline of free access to cash. We need a cast-iron guarantee that the CBDC will not distract from work to promote digital inclusion or undermine protections for cash infrastructure. A digital pound must never replace physical money.”
“I also want to put on record that my thoughts and prayers are with those affected by the earthquake in Turkey and Syria. Labour welcomes that the Bank of England will be exploring the potential benefits of a central bank digital currency, or CBDC. With the rise of digital payments, and with the European Union, the US and China all exploring the use of CBDCs, we recognise the growing case for a state-backed digital pound to protect the integrity and sovereignty of the Bank of England and the UK’s financial and monetary system. We fully support the Bank of England’s work on this area, but there are important questions that must be addressed before we decide whether the potential benefits of implementing a new payments infrastructure outweigh the risks.”
“However, the family element of child tax credits and the income disregard element of tax credits do not appear to be rising with inflation, with the proposed 2023 rates unchanged from those in 2022. The report states that if inflation is taken into account, the former should be set to £600, but instead it will be £545, and that the latter should be set at £2,755, but instead it will be £2,500. Will the Minister inform us why these rates are not being adjusted for inflation?”
“This instrument looks more promising, as the rates have been increased in line with CPI. Labour welcomes the increase and will support the instrument; we welcome any help for people struggling in the face of soaring energy bills and inflation. I have one question for the Minister, on which I hope she can shed some light. Published alongside the instrument was a review of tax credit monetary amounts, as required by section 41 of the Tax Credits Act 2002. It sets out each element of the various tax credits discussed today, listing the 2022 rates and 2023 rates and making it clear whether they have been adjusted in line with inflation. Almost all the rates are rising by CPI, or 10.1%.”
“The explanatory memorandum to the instrument states: “Increasing the rates of Class 2 and 3 NICs will be a small tax increase in cash terms for individuals.” Will the Minister take this opportunity to let us know the exact figure or estimate that the Treasury has produced for the rise? The instrument also allows for payments of a Treasury grant to be made into the national insurance fund. Could the Minister set out why this year’s figure, which must not exceed 5% of the estimated benefit expenditure for the tax year, has significantly decreased from last year’s figure of 17%? What is the significance of that difference? The second instrument sets out the annual rates of working tax and child tax credit, and the weekly rates of child benefit and guardian’s allowance for the coming tax year, which I note is also an annual process.”
“The Chancellor announced at the autumn statement that most national insurance rates, limits and thresholds would be fixed at their 2022-23 levels for the coming tax year. The only rates that will increase in line with inflation, measured at 10.1% for the year to September 2022, is the flat cash rate of class 2 and class 3 contributions. This change is expected to bring 55,000 individuals into paying national insurance by the tax year 2027-28. Given the pressures facing households across the country, this rise will be alarming for many, as I am already seeing in my constituency cases.”
“It is a pleasure to serve under your chairship, Mrs Cummins, and to consider these regulations in Committee. I thank the Minister for her comments. As we have heard, the draft Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2023 give effect to the annual rerating of a range of national insurance contribution rates, limits and thresholds, for the purpose of calculating liabilities for the tax year beginning in April. This process, as the Minister mentioned, occurs annually and is primarily designed to take into account the rate of inflation, which is at a record high, causing much concern and hardship across the country.”
“I thank the Minister for clarifying those points; it is helpful to find out why the family element is not increasing. Could the Minister clarify whether the case is the same for the income disregard element?”
“I am sure that they notice how similar their amendment is to the one that Labour tabled at that stage. Indeed, it is identical to our amendment—an amendment that they voted against. As Labour has repeatedly emphasised, reviews of the bank’s performance will be essential to ensuring that it meets its objectives to invest in the industries of the future. It was shocking that the Government wanted an initial review in 10 years with subsequent reviews every five years. The bank needs momentum and drive behind it, and I am glad to see that the Government have now realised the error of their thinking and committed to reviews of the bank every five years.”
“A lost decade of broken Tory promises has left much of the UK with second-rate infrastructure, which is why we support the establishment and the strengthening of the UK Infrastructure Bank and will not be opposing the Bill. The bank is much needed. It will invest in projects that support our net zero targets and contribute to local and regional economic growth. However, we will go further than the Government and harness the full potential of the bank to provide good jobs and opportunities across the country. I will speak to our amendments a little later. I wish to start by saying how much I welcome the Government’s U-turn in relation to their amendment 1. I see Ministers on the Front Bench who were with us when the Bill was debated in Committee.”
“New clause 2 would require the bank to publish an annual report setting out the geographical spread and the ownership of businesses and bodies that it invests in. It would also require the bank to publish a good jobs plan for every project it invests in, to ensure that the project will improve productivity, pay, jobs and living standards.”
“Now it is being sold by administrators, with the Government seemingly abandoning their promises of levelling up and supporting a green economy. Just this week, the British electric van start-up “Arrival” announced that it is cutting 800 jobs, as it moves for extra funding and green subsidies in the US. Hon. Members will not be surprised to hear that Labour has no faith in the Government harnessing the potential of the UK Infrastructure Bank to invest in the high-skilled jobs of the future. A Labour Government will use our green prosperity fund to invest in wind, solar and nuclear energy; insulate 19 million homes; grow our economy; and get Britain winning the race to net zero. We have tabled new clause 2 and amendment 5 to ensure that the UK Infrastructure Bank can play its role in this mission.”
“Let us look at the Government’s record on infrastructure: a green homes scheme closed just six months after its introduction, with a £1 billion cut from its budget; an energy system that sees fossil fuel companies making record profits while hard-working people’s bills soar; and just a fortnight ago, a crucial gigafactory, Britishvolt, went into administration, leaving the future of the British electric vehicle market in jeopardy. According to the Government, the purpose of the UK Infrastructure Bank is to provide access to money, particularly where there is an undersupply of private financing. Britishvolt, a UK battery start-up, was expected to support new jobs and green technology with a factory in Blyth.”
“I am grateful to the hon. Gentleman for his comments. He might remember that we tabled amendments in Committee and again on Report on that issue, but because the Government announced a U-turn, we decided to withdraw our amendment. Yesterday’s dreadful IMF forecast makes it very clear that Britain has so much potential but that the Conservative Government are holding us back. The UK is the only G7 country forecast to see negative economic growth.”
“We want the benefits of the UK Infrastructure Bank to be seen here in the UK, with home-grown renewables such as offshore wind, solar, nuclear, hydrogen and tidal power.”
“It would make it clear that the bank’s target of boosting regional and local economic growth includes reducing economic inequalities within and between regions in the UK. Despite the Government’s assurances to the contrary, the Bill contains only a watered-down commitment that could result in the bank’s resources being poorly targeted and ineffective. We want a further objective for the bank to contribute to the UK’s supply chain resilience and industrial strategy. I have mentioned the collapse of Britishvolt and the warnings of green investment moving abroad. Those are serious concerns. The importance of supply chain resilience has become particularly clear in the wake of the pandemic and as concerns over energy security have come to the fore with the war in Ukraine.”
“I hope, too, that the Minister is paying attention right now and agrees that we want the UK Infrastructure Bank to create high-skilled, well-paid jobs. With a good jobs plan for every project that it invests in, we can ensure value for taxpayers’ money. That approach has been taken with previous significant infrastructure projects in the UK. For example, the Olympic Delivery Authority worked with trade unions and others to ensure that the project delivered good quality local jobs, and a similar approach was taken with High Speed 2. If the Government are as committed to their levelling-up agenda as they claim to be, I am sure that they will vote for our new clause today. Amendment 5 would strengthen the bank’s objectives.”
“My hon. Friend makes strong points about what the Government should be doing, and I hope the Minister takes them on board. We have all seen the allegations of favouritism that have beset the Government’s levelling-up funding, with nothing in the Bill to guarantee that the bank will distribute its funds to the areas that need them the most. Our new clause would ensure scrutiny and transparency over bank investments. Given the Prime Minister’s now famous boast—I quote it in case Members have forgotten—about reversing Treasury formulas that “shoved all the funding into deprived…areas”, I hope the Minister can see why we think transparency is necessary. His party, after all, is the party responsible for the loss of £6.7 billion to fraud and mismanagement.”
“Nothing in it would do anything to improve water company performance or reduce sewage dumping; on the contrary, it would give water companies an excuse to not undertake the necessary improvement works. We will therefore not support it. Labour has set out a clear plan to end the Tory sewage scandal by introducing mandatory monitoring with automatic fines, ensuring that regulators properly enforce the rules, and holding water bosses personally accountable for sewage pollution.”
“We have a world-leading offshore wind industry in Scotland and on the east coast, hydrogen in the north-west and on Teesside, nuclear power in the south-east, and solar power in the south and the midlands, but the potential of these industries can be realised only if investment stays in the UK. The amendments we have tabled would allow that to happen. The lack of domestic champions has compromised our security and stalled progress, and our amendments would enable the UK Infrastructure Bank to help reverse the trend. I will speak briefly to the other amendments we are considering today. Labour strongly supported the circular economy and nature-based solutions being on the face of the Bill, and we were disappointed to see the Government remove them, but we are clear that amendment 4 has not been properly thought through.”
“I thank the hon. Gentleman for his comments—as I say, I always like to take them on board—but I fundamentally disagree with him, because our amendment would ensure that we take the Bill further. As he once said, the best way to promote UK manufacturing jobs and production is to “shape regulation to support enterprise.” —[ Official Report , 16 November 2021; Vol. 703, c. 438.] That is exactly what Labour seeks to do with our amendments, so I really hope he will support them. I understand where he is coming from, but our amendments would make sure that we deliver the projects that we need in the UK. We know that the UK Infrastructure Bank could be a national enterprise.”
“We support the establishment of the UK Infrastructure Bank and have sought to improve the Bill throughout. We want to see stronger objectives and reporting for the bank, so that it can play a role in meeting our net zero targets while creating good jobs across the country and supporting the UK supply chain’s resilience, but what the bank needs most of all from the Government is an ambitious plan. Once again, the Government are on the back foot and U-turning at the last minute with amendment 1, on the bank’s reviews. It is yet another sign that Labour is the party with a plan for government—a party that will grow the economy and create jobs for the future.”
“I am not going to take any advice from the Government. They have been in government for 13 years, and what have they delivered so far? I suggest that the hon. Lady support our amendment, which would ensure that things go through properly. The devolved Administrations must be included in the development of the UK Infrastructure Bank. I have already mentioned the fantastic wind energy sector that we have in Scotland, and I was excited to read about the opportunities that the bank has identified in Northern Ireland. We do not believe that amendment 2 is necessary to ensure that all regions and nations of the UK benefit from the Bill, so we will not support it. As we enter another year of low growth and failed Conservative government, we know there is a vital need to invest in the infrastructure of the future.”
“Does the Minister remember rejecting our amendment about the reviews? He is saying that this is not a U-turn, so I just want to hear from him about that aspect.”
“If the Government’s analysis shows that the non-dom status is an asset to our economy, why do they refuse to publish it? In his closing speech, will the Minister provide us with answers to some of the many questions raised today? Labour’s proposal is not just about raising much-needed money; it is about fairness in the tax system, the same rules for all, and support for those who keep our economy growing. By voting against our motion today, the Government will make it clear exactly whose priorities they are here to serve, but Labour is clear that if people make their lives in Britain, they should pay their taxes here.”
“A Labour Government would do all that by scrapping the non-dom tax status, as we called for ahead of the autumn statement. Although the Chancellor, or perhaps the Prime Minister, decided against it, the Chancellor told the Treasury Committee that he would look into it. Can the Minister tell us whether he has? The Government are yet to publish any analysis or provide an update on their considerations. Why are Ministers so quick to tax my constituents and so slow to act on non-doms? That is why we are here today. We have heard about the difference that abolishing the non-dom status could make. Academics have estimated that the status costs the Government more than £3 billion, yet the Government refuse to move. Why? So far, they have refused to publish the analysis that would lay out exactly what trade-offs they are choosing to make.”
“A Labour Government would scrap the non-dom tax status and end tax breaks for private equity bosses and private schools. A Labour Government would crack down on hidden offshore trusts that allow people to avoid paying their taxes. With the money that would raise, a Labour Government would fund the biggest recruitment drive in modern NHS history and provide breakfast clubs for all primary aged children. As my hon. Friend the Member for Ealing North laid out, Labour would train the next generation of doctors, nurses and midwives, so that the NHS can treat patients on time, as it did under the last Labour Government. Labour will support breakfast clubs for children across the country, because we all know that hungry children find it harder to learn.”
“The non-dom tax status is an out-of-date, 200-year-old system that allows people to dodge millions in tax. The Government may pretend that the system is necessary to provide a trickle-down effect to the rest of the economy, but can they explain how countries with much more successful economies than ours manage without non-doms? Canada and Germany require their equivalent of non-doms to pay their taxes after just six months, and in America, they pay their tax from day one—day one! As a modern economy, Britain should operate with modern principles in line with other major economies such as France, Germany and Canada. As we have heard, the non-dom tax loophole costs the economy £3.2 billion. With a modern taxation system, we could provide the much-needed investment that our public services are crying out for.”
“The Conservatives have had 13 years in government, but they have failed. Throughout the chaos of the last year, with constantly changing Prime Ministers and Chancellors, the British public could be sure about only one thing—that their taxes would continue to rise while the pound in their pocket got weaker. While people’s pockets have been emptied, a few at the top are wriggling out of paying their fair share. The non-dom tax status allows the wealthy few to avoid following the normal rules and requirements met by people and businesses up and down this country who work hard and pay their taxes. Instead, those around the most powerful in Britain benefit from our country’s generosity while getting away with not contributing their fair share.”
“Through decisions such as the one they will take today when they vote on Labour’s motion, the Government are entrenching the pressures that the economy faces and pushing costs on to working people as their own Ministers seek to avoid them. No one will be reassured by the Government’s arguments that all countries are experiencing soaring inflation. The Prime Minister has repeatedly said that the UK will grow the fastest of all G7 countries, but today’s IMF stats set the UK far behind its competitors. Contrary to the assurances of the Prime Minister and Chancellor, we are the only G7 country that is forecast not to see its economy grow. The Chancellor could not be bothered to come to the House to respond to those stats today, but it is good to see the Financial Secretary to the Treasury in the Chamber.”
“Friend the Member for Lewisham, Deptford (Vicky Foxcroft) talked about how abolishing the non-dom status could help the Government to prioritise support for young people. As my hon. Friend the Member for Ealing North (James Murray) clearly laid out, this Conservative Government are out of ideas and missing in action. Food and fuel costs are soaring, while our economy is left completely exposed. I am sure the Minister will repeat that rising prices are not unique to Britain and many countries are experiencing inflationary pressures, but what is unique to Britain is that we are at the bottom of the pack. What is unique to Britain is that the Government refuse to take action.”
“Friend the Member for Bradford West (Naz Shah) spoke passionately about how working people are picking up the tab for the Government’s failure to invest in her constituency. My hon. Friends the Members for Bristol East (Kerry McCarthy) and for St Helens South and Whiston (Ms Rimmer) got to the heart of this debate about the current system. This is about fairness—if people live here and work here, they should pay their taxes here. That was echoed by my hon. Friend the Member for Ellesmere Port and Neston (Justin Madders), who said that this loophole should not exist. My hon. Friend the Member for Leeds North West (Alex Sobel) asked a simple question, and I would be grateful if the Minister could answer it: how much tax has been lost by the loophole? Do the Government even know? My hon.”
“As we have heard from Opposition Members today, this Conservative Government have repeatedly failed to deal with the non-dom tax loophole, and what is the result? It is higher taxes on working people; tax breaks for the super-rich, when we could be training new NHS workers and delivering breakfast clubs for primary-age children; and a Government mired in sleaze and scandal, with a former Conservative Chancellor who found adhering to the ministerial code just too taxing. Just this morning, the International Monetary Fund predicted that the UK will be the only major economy to see negative growth. The choice is clear: slow growth, stale ideas and sleaze with this Government or ambition, aspiration and a clear plan with Labour. I thank Members for their contributions to the debate. My hon.”
“Following the Bar Council’s recommendations and concerns about protections, I put on record that I have been contacted by a large number of constituents who are concerned about the protection of their rights as workers, which they fought hard for, and their rights as consumers. Furthermore, they want hon. Members, particularly the Minister, to know that they are concerned that no scrutiny will take place on this. Does my hon. Friend agree that, based on this Government’s record, there is no way they will maintain the high standards that our constituents expect or ensure that this Bill adequately represents our constituents?”
“For that reason we will vote against the Bill on Third Reading even if it has been amended, but before we reach that stage we still want to use this Committee stage to interrogate the Government on some of the detail, and to urge them at least to amend its provisions if they are not willing to drop it entirely.”
“The Government’s other amendments, which are consequential on that change, include an amendment to the name of the Bill. The Opposition remain opposed to the stamp duty cut. Even if Government amendments 1 to 14 are agreed to, the Bill will still represent a failure by the Conservatives to spend money wisely. We are not talking about a small amount of money: the Government’s own figures make the Bill’s price tag clear. Even if the stamp duty cut is time-limited, it will still cost taxpayers £3.2 billion. We are serious about spending public money wisely, and the Government should be as well.”
“Four days before we were due to debate all stages of the Bill, the Leader of the House announced that we would debate only its Second Reading. No reason was given for that last-minute change to parliamentary business, so we speculated that the decision might have been intended to give the new Prime Minister and his Chancellor the chance to change their mind about these stamp duty changes. That is indeed what has happened. Rather than reversing the stamp duty cut altogether, however, the Government’s amendments seek only to impose a time limit on it. Ministers could have used the breathing space since last October to do the right thing and scrap the stamp duty cut, but instead the Chancellor proposes only a partial U-turn. Government amendment 1 will amend clause 1, imposing a sunset date of 31 March 2025.”
“Thank you, Sir Roger. It is a pleasure to serve under your chairship this afternoon. I was not perplexed at all. When we debated the Bill on Second Reading in October, the stamp duty cut that it seeks to introduce was one of the last few measures to have survived from the Tories’ reckless mini-Budget in September. As we said at the time, we oppose the stamp duty cut because it would not be the right way to spend public money and would not be responsible. On the back of 13 years of economic stagnation, our economy has just suffered long-term damage from the Tories’ recklessness at the end of last year. We made it clear that spending £1.7 billion a year on the proposed stamp duty cut simply could not be justified. In October, as hon. Members may remember, there was a last-minute flip-flop in parliamentary business.”
“Forestalling is therefore expected to be an important issue in relation to the end of the temporary stamp duty cut, and we urge the Government to set out the measures they are planning ahead of that. If they are not willing to accept our new clause 1, I urge the Minister to set out the detail that we request, either at the end of the debate or subsequently in writing. When our country is suffering the consequences of 13 years of low growth and of the Conservatives’ economic chaos at the end of last year, now is not the time to be spending £3.2 billion on this tax cut, particularly when hundreds of millions of pounds will go to the buyers of second homes. We urge Members in all parts of the Committee to support our amendments to remove the tax cut for second-home buyers, and to join us in opposing the Bill on Third Reading.”
“We are also asking them to set out the measures they are “planning to ease the impact on tax revenues, home purchases and the housing market of the reduction in stamp duty…coming to an abrupt end on 31 March 2025.” We know from Government amendment 12 that Ministers are introducing measures to ensure that transitions that straddle the end of the temporary relief benefit from the reduction, but the question of the impact of ending the stamp duty relief goes much further than that. In 2016, the Office for Budget Responsibility published a paper on property tax changes and forestalling when transactions are brought forward to benefit from lower tax rates. The OBR found that in each historic case that was analysed, the preannouncement of an upcoming tax increase led to a sizeable forestalling.”
“We know from the Government’s policy paper on this tax change that His Majesty’s Revenue and Customs will have to incur costs in the region of £300,000 to change IT systems, and about £2.4 million in extra staff costs. That is ridiculous. Through new clause 1, we aim to push Ministers further by asking them to set out specifically the costs of implementing their U-turn “for the Government, the property industry, and homebuyers”, as well as “any wider costs and impacts of the change…on the housing market”.”
“As I have made clear, we do not believe that this stamp duty cut is the right or responsible way in which to spend £3.2 billion of public money, but if the Government are not willing to cancel the cut altogether, I urge Conservative Members at the very least to support our amendment to prevent second home buyers from receiving a £2,500 tax cut. New clause 1, which Labour has also tabled, requires the Chancellor to be up front and transparent about the costs of the partial U-turn on the stamp duty cut, and to set out the measures that the Government will take to mitigate the impact of the abrupt end of the stamp duty relief at the end of March 2025.”