Sunak pledges to keep stamp duty threshold at £425k for first-time buyers

Plan to reform stamp duty would affect 200,000 UK households annually. Photograph: Andrew Matthews/PA

The Conservatives would permanently scrap stamp duty on homes up to £425,000 for first-time buyers, Rishi Sunak is expected to pledge in the party’s election manifesto, in a move that would affect 200,000 households annually.

The threshold was raised from £300,000 to £425,000 in the September 2022 mini-budget as a temporary relief measure that is due to expire next March.