Stamp duty will basically have no effect on whether someone can buy a house or not.

This is just "blah blah blah" nonsense that sounds good for a second, and makes no difference to anything.

On a smaller, cheaper house (less than £125,000) you pay 0%.

If it's less than £250,000, you'd pay 2% of the bit between £125,000 and £250,000.

E.g. £150,000 house = £500 stamp duty.

Is anyone out there saying " I could afford a £150,000 house... but £150,500 is so far beyond my means, that my dreams of home ownership are forever ruined! If only the government could make this £150,000 item cost 0.3% less!"

£200,000 house = £1,500 stamp duty

Even if you're buying a fancier house, that costs £300,000, it's only about £5,000 of Stamp duty.

If you can afford to buy a house for £300,000, you can afford to buy one for £305,000. If you can't afford it, maybe look at buying a £295,000 house? Is it going to actually be any different?

You pay 10% for the bit above a million quid, if your house is over a million quid. That's potentially quite a saving if you're a millionaire.

Oh, won't somebody think of the poor, starving millionaires!

The starting rate for a flat in my already overcrowded city is £250,000. A flat!

Let's be honest the Tories are never going to get a chance to enact this. But also stamp duty is a pretty fucked up tax for an already obscenely expensive buying process.

Here's a radical idea. Keep stamp duty and use 100% of the proceeds to pay for house building that the government will do. Every time someone moves home they help build another home.