A party spokesperson said yesterday 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.
The clarification came after Keir Starmer appeared to announce the end of another tax break during a phone-in on BBC Radio 5 Live.
In 2022, Sunak said the higher threshold would last until April 2025, but he has since committed to making it permanent if he wins the election, at a cost of nearly £600m a year by the end of the parliament.
Labour has not made the same commitment, accusing the Conservatives of making unfunded promises, and the party confirmed it would allow the tax break to expire.
This story is from the June 29, 2024 edition of The Guardian.
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This story is from the June 29, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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