Rishi Sunak urged to cut stamp duty in March Budget to give voters 'immediate' benefit ahead of the next General Election

The policy has been suggested by former Housing Secretary Robert Jenrick

Rishi Sunak has been urged to cut stamp duty in the March Budget to give voters an ‘immediate’ benefit ahead of the General Election.

The tax cut is a ‘golden opportunity’ to win back voters, senior Conservative MP and former Housing Secretary Robert Jenrick argues.

Writing in The Mail on Sunday, Mr Jenrick says: ‘A stamp duty cut would give a much-needed stimulus to the economy. Unlike other tax cuts that take time to reap dividends, it would create an immediate feel-good factor.’

Mr Sunak, along with Chancellor Jeremy Hunt, are finalising their March 6 Budget, which will be focused on some form of tax cuts. MPs privately say the Budget is a ‘last roll of the dice’ for the Prime Minister.

Rishi Sunak’s team are finalising their March 6 Budget, which will be focused on some form of tax cuts

MPs privately say the Budget is a ‘last roll of the dice’ for the Prime Minister and his Chancellor Jeremy Hunt

The Housing and Finance Institute, led by Conservative MP Natalie Elphicke (pictured), said people under 40 should be allowed to – instead of building up their pension pot – put the money into a saving account that can be used to fund a deposit for their first home

It comes as a think tank urged the Chancellor to radically change pension rules to allow young people to divert their pension contributions to getting their foot on the property ladder instead.

The Housing and Finance Institute, led by Conservative MP Natalie Elphicke, said people under 40 should be allowed to – instead of building up their pension pot – put the money into a saving account that can be used to fund a deposit for their first home.

Ms Elphicke said the measure would ‘bring home ownership back within reach of tens of thousands of under-40s priced out of the market’.

Meanwhile the Government has announced plans to make it easier for developers to convert disused shops into residential homes by cutting red tape for ‘brownfield’ sites.