The Confederation of British Industry (CBI) today responded to the Labour Party's proposal to scrap stamp duty for first time buyers on properties worth less than £300,000.
CBI director-general John Cridland said: "It's right to help first time buyers get onto the property ladder, which could also provide a boost to the economy and the housing market.

"We urgently need more homes for people to buy, which is why the number one priority for housing policy must be building 240,000 new properties each year. We look forward to seeing more detailed costings and timelines for these proposals."