Burnham Endorses Property Tax Overhaul
Andy Burnham, the Labour MP for Makerfield set to become Prime Minister on Monday, has endorsed a plan that could see households in homes valued at £553,000 face annual bills of £2,654. The proposal, backed by the Fairer Share campaign group, aims to replace both stamp duty and council tax with a single property tax set at 0.48% of a home's value.
Burnham, who previously served as Greater Manchester Mayor, has long advocated for reforming property taxes. During his 2010 Labour leadership campaign, he called for a new tax on property owners to replace stamp duty, which he described as a “tax on the aspirations of young people to put down roots and get on in life.”
Impact on Homeowners and Homebuyers
Under the proposed system, those moving house would pay no tax at the point of purchase. However, owners of a £553,000 home—a typical price in parts of London—would face an annual charge of £2,654. The change is designed to shift the tax burden from transactions to ongoing ownership, potentially making it easier for first-time buyers to enter the market.
Melanie Ward, Labour MP for Cowdenbeath and Kirkcaldy and a long-time Burnham supporter, highlighted that addressing the cost of living would be a top priority for the new Prime Minister. Speaking on BBC Radio 4's Today programme, she stated: “He will focus on how do we get growth, jobs and economic potential into areas that have been left behind and forgotten in our country for too long.”
Broader Policy Agenda
Ward outlined other key initiatives, including a “massive” council house building programme, public transport reforms, and tackling water company pollution. “People are fed up with having waterways with sewage in them for too long,” she said. Last month, Burnham promised “the biggest council house building programme since the post-war period,” signaling a distinctly leftwing but pro-business vision.
Burnham is set to succeed Sir Keir Starmer as Prime Minister on Monday, after winning the Labour leadership. His first address to the nation will outline his government's priorities, with the cost of living and economic regeneration at the forefront.
