Housing minister Chris Pincher has entered the row over Labour claiming that the stamp duty holiday announced last week was in reality “a bung” to landlords and the private rental sector.
Labour is aggrieved that the stamp duty exemption up to £500,000 applies to all buyers, including those investment purchasers and people wanting a vacation property.
The party instead wants buy to let landlords excluded and Thangam Debbonaire, Labour’s shadow housing secretary, says: “It is unacceptable that the Chancellor tried to sneak out this huge bung to second home owners and landlords while millions of people are desperate for support. He should be targeting support to those who need it, not helping people invest in buy-to-let properties and holiday homes.
“An unnecessary subsidy for second home-owners will only worsen the housing crisis by reducing the supply of homes overall. We need a credible plan from Tory Ministers to build the homes our country needs and get people on to the housing ladder.”
Now housing minister Pincher has tweeted a challenge to Labour’s shadow chancellor – Annaliese Dodds – to say whether she back’s Debbonaire’s use of the word “bung” and criticism of the stamp duty holiday.
Pincher tweets: “She [Dodds] should set the record straight … and confirm she reject’s Labour’s attack on home buyers and house builders.”
So far, Dodds has not responded to the challenge.
This post has originally been featured in Letting Agent Today.