Wonk world’s verdict of Kemi Badenoch’s conference speech is in. Unsurprisingly, there’s plenty of praise for the commitment to scrapping stamp duty. As far as rabbits out of the hat go, this has left the low-tax think tankers spellbound…
- The TaxPayers’ Alliance’s Head of Campaigns Elliot Keck said: “Taxpayers will be relieved to finally hear a major political party pledge the full abolition of stamp duty, a leading contender for Britain’s worst, most economically damaging tax.” Although TPA Chief Executive John O’Connell nonetheless warned the Tories to “be open and honest with the public about just how challenging the decisions on spending are going to be”…
- The Institute of Economic Affairs’ Executive Director Tom Clougherty also gave the stamp duty axe the thumbs up: “Abolishing stamp duty is the single best reform any government could make to Britain’s tax system… As things stand, this outdated and uneconomic levy is wreaking havoc on our already troubled housing market – by deterring sales and depressing house-building.” Unequivocal…
- The Adam Smith Institute’s Director of Public Affairs Maxwell Marlow was similarly pleased: “After a year of holding our breath for policy announcements, Kemi Badenoch’s closing speech for the Conservative Party Conference should be welcomed as a radical plan to rebuild the foundations of our economy. In particular, the pledge to abolish stamp duty, which is Britain’s most economically and socially harmful tax, will be universally welcomed by economists and the public.” He also liked the plans to rein in Motability costs – not a bad idea…
- The Director of the Centre for Policy Studies Robert Colvile called the announcement the right move: “Stamp duty is a horrendous tax that depresses economic activity, harms productivity and prevents people living in the places and houses they want to. That means cutting it is not only right, but should be far more cost-effective than pretty much any other major tax cut, due to the boost to the economy.” ‘Britain’s worst tax’…
- Onward Director Simon Clarke tweeted his support: “Absolutely BRILLIANT… Stamp duty on your home would be ABOLISHED by [the] Conservatives… No messing around.” Admittedly he is an ex-Tory cabinet minister, but Kemi will still be happy…
Of course, whether this makes a jot of difference to the polling is another question. A better question still is ‘what does the government think’? After all, back when Torsten Bell ran the Resolution Foundation, he said “stamp duties are bad taxes“. That was before Bell ended up with a red box…
