Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property Industry Eye. Read the original article for full details.

Prime Minister Burnham Rules Out Stamp Duty Reform in 2026 Budget

Prime Minister Andy Burnham has confirmed that there will be no changes to stamp duty in this year’s Budget. Burnham dismissed speculation that the government could reform or abolish the property tax.

When asked whether ministers were considering changes to stamp duty, Burnham stated, “Yes, I can say that quite clearly. That won’t be happening.”

Stamp duty generated £16.6 billion for the Treasury in the last financial year, making it a significant source of government revenue. Burnham said the government was not considering tax reforms “on that scale” and emphasised that its priority was to make the tax system fairer.

He added, “It’s just not the case that we are bringing forward plans on that scale at this moment in time. What we’re trying to do though is to make taxation fairer.”

Labour’s 2024 general election manifesto pledged not to increase the rates of income tax, National Insurance, or VAT, which together account for the majority of UK tax receipts. The prime minister has previously indicated that some taxes may need to increase as the government faces growing spending pressures, including an ageing population, defence spending, and wider investment commitments.

For letting agents and inventory clerks, the confirmation that stamp duty will remain unchanged provides clarity for property transactions and planning in the coming year.