Conservative leader Kemi Badenoch received a standing ovation after she announced the party will scrap stamp duty if it forms the next government.

During her speech at the Conservative party conference in Manchester, Badenoch said: “At the heart of a Conservative Britain is a country where people who wish to own their first home, can… but our housing market is not working as it should.”

In a press release, the party specified that this will related only to primary residences irrespective of the price.

It will not apply to any additional homes, properties purchased by companies, or by non-UK residents.

Stamp duty is paid by someone purchasing a home in England and Northern Ireland – it begins on property costing £125,000, or £300,000 if it’s your first home.