{
  "id": 6736254,
  "title": "Stamp duty reform is ‘urgent,’ Berkeley tells Burnham",
  "url": "https://urgent.news/2026/09/11/stamp-duty-reform-is-urgent-berkeley-tells-burnham",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-11T08:50:38.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/stamp-duty-reform-is-urgent-berkeley-tells-burnham/"
  },
  "original_language": "en",
  "account": "Berkeley, a FTSE 250 housebuilder, has urged Labour leader Andy Burnham to commit to \"urgent reform\" of stamp duty, which it claims is hindering the housing market. The company argues that stamp duty is making first-time buying unaffordable and discouraging homeowners from moving again. Berkeley points out that more tax revenue is being lost due to depressed activity than is gained from stamp duty on new builds, according to HMRC's own assessment. The firm suggests capping stamp duty at one percent for first-time buyers and those moving into smaller homes, and removing the five percent investor surcharge. Berkeley emphasizes that these changes would support first-time home purchases, free up more family homes, and increase the availability of rental properties. The company argues that stamp duty was introduced during a time of low interest rates, but now that rates have returned to normal, it has become a \"binding constraint\" on the housing market. Berkeley sees new housing as a way to create skilled jobs, apprenticeships, economic growth, and much-needed homes, while also generating significant tax revenue for the government. The Surrey-based firm notes that it is encouraged by the Prime Minister's recognition of the importance of home-building in driving economic growth. Berkeley is among several housebuilders calling for action to address stamp duty as the sector faces rising costs due to the ongoing Iran war. The company recently cut its construction targets by 25 percent to focus on cash generation, anticipating that the conflict's impact on its housing output and balance sheet would be worse than initially thought.",
  "summary": "Berkeley has urged Andy Burnham to commit to “urgent reform” to stamp duty, which it says has become a “binding constraint” on housebuilders and buyers. The FTSE 250 firm said that stamp duty is to blame for the slump in demand for new homes, because it makes first-time-buying unaffordable and dissuades existing homeowners from moving [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "City AM",
        "title": "Burnham bounce? Business confidence tells a different story",
        "url": "https://urgent.news/2026/09/09/burnham-bounce-business-confidence-tells-a-different-story",
        "published": "2026-09-09T04:44:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}