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James Cleverly Gains Momentum with £10 Billion Stamp Duty Abolition Pledge, 50% Tax Cap at Tory Conference

Oct 2, 2024, 10:47 AM

James Cleverly, a Conservative leadership candidate, has gained significant momentum following his speech at the Tory party conference. Cleverly received strong applause and a standing ovation from party members, bolstering his position in the leadership race. He pledged to abolish stamp duty on residential property, a move estimated to cost £10 billion annually, and to ensure no one is taxed more than 50% of their earnings. Cleverly also proposed a 3% spending on defence. His policies have been well-received, with many delegates and former MPs, including Vicky Ford, expressing their support. His speech emphasized reducing state intervention in individuals' lives and presented him as the candidate most feared by political opponents. Former PM Liz Truss had previously advocated for the abolition of stamp duty, and Cleverly's speech was seen as stronger compared to rival Tom Tugendhat's.