UK FACT CHECK POLITICS
UK FACT CHECK POLITICS
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From: Budget 2026 live: Latest updates, analysis and fact checks

IEA urges Chancellor to abolish stamp duty land tax in the Budget

The Institute of Economic Affairs is calling on the Chancellor, John Healey, to scrap stamp duty land tax in the Budget on 28 October.

The right-leaning think tank wants the tax abolished on all residential and non-residential transactions in England and Northern Ireland. It says the tax is a "major barrier" to growth.

According to IEA analysis reported by Press News Agency, a buyer of a £500,000 home would save £15,000 under standard residential rates if the tax went. The IEA is an advocacy group, so this is its own figure, and it has not been independently checked here.

The Conservatives have pledged to abolish the tax on primary residences only.

This is a campaign demand. There is no report that the government plans to scrap stamp duty land tax.

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