Stamp duty for first-time buyers would rise in 2025 under Labour government

Party says it would allow threshold for stamp duty to fall back to £300,000 after it was raised temporarily in 2022

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Stamp duty will rise for first-time buyers next year if Labour wins the election, the party has confirmed, as it plans to allow a temporary tax break enacted by the Conservatives to expire.

A party spokesperson said on Friday it would allow the threshold for stamp duty to fall back to £300,000, after it was raised to £425,000 in 2022 by Rishi Sunak, the then chancellor.

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