The Know Daily - Monday 13 October 2025

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In London’s Portman Square, a stunning new bronze sculpture named Mother Vérité is shining a light on the beauty and strength of postpartum life – check it out here. London’s “first postpartum statue” was created by Rayvenn Shaleigha D’Clark and commissioned by Frida to celebrate and honour mothers 🤍

🏠 Stamp duty explained

The Conservatives have promised to scrap stamp duty on main homes if they win the next election.

What is stamp duty?
Stamp duty is a tax that has been around for centuries (since 1694 actually), which you pay when buying a home or piece of land worth more than a set amount in England and Northern Ireland. The bigger the price tag, the higher the bill. First-time buyers get some relief, but it’s still a big chunk of change on top of deposits, surveys and moving costs. The current stamp duty rates are:

• £0-£125,000 (£300,000 for most first-time buyers) = 0%

• £125,001-£250,000 = 2%

• £250,001-£925,000 = 5%

• £925,001-£1.5m = 10%

• £1.5m+ = 12%

Why do the Conservatives want to get rid of it?
At the Conservative Party conference, leader Kemi Badenoch called stamp duty a “bad tax”. Her party says it wants to scrap it entirely for main homes, while keeping it for second homes, company purchases and overseas buyers. The aim? To get the housing market moving again by making it cheaper and simpler to buy.

Supporters say stamp duty stops people from moving up (or down) the ladder because it adds thousands to every sale (for example, if your new house costs £300k, then you’ll pay an extra £15k in stamp duty). Getting rid of it, they argue, could unblock the market – encouraging families to move, first-time buyers to take the plunge, and older homeowners to downsize. It could also give the economy a little boost, with more people spending on builders, movers and home improvements. Critics, though, worry it could push prices up further by giving buyers more money to spend in already tight markets.

How would it affect homebuyers?
If stamp duty goes, buyers could save thousands of pounds upfront – a big help for anyone saving up for a deposit. It could also make moving house less of a financial headache for existing homeowners. But experts warn the benefits might not last long if prices rise to match. Those buying more expensive homes would feel the biggest relief, while first-time buyers might not see a huge change if property values jump.

What would it mean for the housing market?
In the short term, scrapping stamp duty would likely fuel demand, with buyers rushing to take advantage. Over time, though, it might leave a billion-pound hole in public finances that the government would need to fill elsewhere. Within the last year, the government made nearly £14bn from stamp duty alone. And while cheaper transactions are a bonus, several housing experts agree that the real issue is supply and that there just aren’t currently enough affordable homes. So while getting rid of stamp duty might make moving cheaper, it's not guaranteed to make buying easier.

💰 Money Monday: Did you know that there is a good day of the week to get the best deal on a UK hotel room? 

• The bigger story: Whilst most leisure travellers book on weekends to have more time to plan, weekdays are actually a better time to be on the lookout. Business travel schedules are usually adjusted at the beginning of the week, which can free up rooms. By Tuesday, booking websites may reduce prices to fill the spaces created by cancellations. Consider this your sign to book that staycation.

🕊️ Middle East latest: The Israeli military has confirmed that all 20 living hostages held in Gaza have been released. In exchange, Israel has begun releasing 250 Palestinian prisoners and more than 1,700 detainees. Meanwhile, former US President Donald Trump is heading to Egypt to join world leaders at a peace summit.

🎼 Thank you, next: These two famous music awards are being held outside London for the first time. 

🤧 “Something’s going round…”: Here is why so many people are fighting colds in the UK right now.

🥋 And they’re off: This South American city opened its first ever Judo Grand Prix yesterday. 

💻 Shortcut solution: A group of researchers have devised a new algorithm to solve one of the oldest problems in computing history.

🔗 Last week’s most clicked: The EU’s new entry/exit system, a koala hitching a piggyback from a dog and the second narrowest house in London. 

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