Overview

• The pledge applies to primary residences only, with charges retained for second homes, company purchases and non‑UK buyers.
• Conservatives put the annual cost at about £9bn, while the IFS estimates roughly £4.5bn, against recent stamp duty receipts of about £14–18bn.
• Funding is presented as part of £47bn in spending cuts, including reductions to welfare, the civil service and overseas aid, with half of savings earmarked for deficit reduction.
• Property industry groups Zoopla and Propertymark welcomed the move for lowering upfront costs and supporting transactions, as opponents and analysts questioned the fiscal numbers and market effects.
• The announcement capped the Manchester conference as Badenoch sought to reset the Tory platform and counter Reform UK and Labour after weak polling and recent defections.