The MP for the Yelverton area has backed Tory plans outlined at their annual conference to abolish stamp duty.

Rebecca Smith, MP for South West Devon, says she has thrown her full support behind Conservative leader Kemi Badenoch’s announcement that a future Conservative government will abolish stamp Duty, calling it a “game-changer for families and homeowners across the South West.”

Speaking after Kemi Badenoch’s announcement at the Conservative Party Conference in Manchester, Miss Smith said: “Owning your own home is one of the most important steps anyone can take. It gives you a real stake in your community and a sense of pride and stability for your family. Yet our housing market is not working as it should. Too many people face barriers when they simply want a home that meets their needs.”

“That’s why I warmly welcome Kemi Badenoch’s announcement that a future Conservative Government will abolish stamp duty for people buying their main home. This is a bold, practical policy that will help families looking to upsize and find their forever home, make it easier for older residents who want to downsize, and support first-time buyers taking their first step on the ladder. It’s about creating a fairer, more flexible housing market that works for everyone.”

The move will cost £9 billion a year and will be fully funded through the Conservatives’ £47 billion savings plan. Half of those savings will go towards reducing the deficit, with the other half supporting measures like this to grow the economy.

Miss Smith added: “Home ownership is at the heart of what we believe as Conservatives. It’s about aspiration, independence and having a stake in your community. I’m proud to see Kemi Badenoch leading with a clear, costed plan that backs those values and gives people in South West Devon a fairer shot at finding the right home for them, whether that’s, a bigger family home, a first home or somewhere to enjoy retirement.”