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PARLIAMENTARY DEBATE
First-time Home Buyers - 22 May 2018 (Commons/Commons Chamber)

Debate Detail

Contributions from Sir Mel Stride, are highlighted with a yellow border.
Con
Stephen Metcalfe
South Basildon and East Thurrock
9. What steps he is taking to support first-time home-buyers throughout the UK.
  12:05:11
Mel Stride
The Financial Secretary to the Treasury
In the last Budget we abolished stamp duty for first-time buyers for the first £300,000 of a property’s value up to £500,000 in total. That has meant that 95% of first-time buyers have paid less stamp duty and a full 80% of first-time buyers have paid no stamp duty at all.
  12:05:35
Stephen Metcalfe
Last November the Chancellor announced an ambitious package to tackle the broken housing market. How many first-time buyers have benefited from that package, particularly in Essex, and where can people find further information about this so we can make hopefully impressive numbers even greater?
  12:06:11
Mel Stride
Some 69,000 individuals have already benefited from this vital tax relief and over 1 million will do so over the coming five years. We do not have disaggregated data specifically for Essex, but I can tell my hon. Friend that within the south-east 12,900 individuals have benefited from first-time buyer tax relief.
Con
  12:06:22
Victoria Prentis
Banbury
17. My constituency tops the leader board for house building, building at the moment over three a day. Can the Minister give an assessment of how much my first-time buyers are saving because of the Government’s policies?
  12:06:27
Mel Stride
As I outlined to my hon. Friend the Member for South Basildon and East Thurrock (Stephen Metcalfe) who asked the preceding question, in the south-east 12,900 first-time buyers have benefited from this relief, of whom 9,000 purchased a property of a value of between £300,000 and £500,000 in total.

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