Tories float help for first-time home buyers in pre-election giveaway
Reports of attention-grabbing pledges emerge as Sunak battles to overturn major polling deficit
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Tories have been dropping hints they could make attention-grabbing pledges on housing and taxes as Rishi Sunak struggles to turn around his party’s major deficit in the polls.
Housing secretary Michael Gove suggested to the Times that the Conservatives will promise to cut the up-front cost of a home for first-time buyers in a pre-election giveaway.
And the prime minister has ordered a “gear change” to reduce the historically high tax burden, possibly axing inheritance tax and reducing income tax, according to the Telegraph.
Both reports emerged as he struggles to turn the tide in favour of his party as Labour sits around 20 points clear in the polls.
The Times said that ministers are considering government support for longer fixed-term mortgages to reduce the size of deposits for first-time buyers.
A resurrected help-to-buy scheme was also said to be on the table for the spring budget or the Conservative election manifesto.
Asked by the Times whether the Conservatives would be able to go into the election expected next year promising more help for first-time buyers, Mr Gove said: “Oh, yes, we must. Definitely.”
Meanwhile, the Telegraph said senior figures in No 10 were considering a handful of major tax cuts as Mr Sunak comes under continued pressure from Tory MPs.
Cutting inheritance tax, in a move that would benefit the wealthy, would likely create a dividing line with Labour, which is unlikely to support such a cut.
Some Conservatives have however expressed opposition to the measure as most people suffer the burden of elevated costs after a sustained period of high inflation.
The Government has not commented on either of the newspaper reports.
The next general election must be held before the end of January 2025 but it is in Mr Sunak’s power when to call it. Most people in Westminster expect it to be held in the autumn.