Basic rate limit and personal allowance

Part of Finance (No. 3) Bill – in the House of Commons at 6:45 pm on 19th November 2018.

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Photo of Neil O'Brien Neil O'Brien Conservative, Harborough 6:45 pm, 19th November 2018

On my hon. Friend’s point about incrementalism, does he recognise that the welcome cut in stamp duty for first-time buyers comes on top of ending the crazy slab-based system of stamp duty land tax which was built up under Gordon Brown? This Government got rid of it, so that we no longer had a situation where paying £1 more for a house triggers a tax increase that could be worth thousands and thousands of pounds.