The Labour party wants to make it easier to own a home by adding the stamp exemption to shared home ownership. Shared home ownership enables individuals to purchase a share in a home, then slowly rent or purchase the remainder. Basically, stamp duty is a tax on home purchases. This would help because a home purchaser would only have to pay the tax on his share of the home. The government does not favor this plan, a suggested alternative was to pay the entire tax in stages.

Read more: Labour wants stamp duty cut to include shared ownership