UK Conservatives Propose Stamp Duty and National Insurance Cuts Ahead of Election

In a bid to boost electoral prospects, the UK Conservative Party considers significant tax reductions, including raising the stamp duty threshold and further reducing national insurance rates.

• The Treasury is reportedly planning to increase the stamp duty threshold from £250,000 to £300,000, potentially exempting nearly half of homebuyers from the tax.
• Chancellor Jeremy Hunt is also considering an additional 2p reduction in national insurance, following previous cuts that have halved the main contribution rate since November 2023.
• Despite these tax cuts, the Conservatives remain behind in polls, with recent surveys showing only 19% voter support.
• The proposed fiscal measures are part of a broader Conservative strategy to appeal to voters with a tax-cutting agenda before the next general election.
• The International Monetary Fund has warned that such tax cuts could complicate efforts to reduce the UK's national debt, with an in-depth review scheduled for next month.

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