A London think tank proposes major changes to the way housing is financed in the capital, arguing they could help address the housing crisis. The Centre for London report recommends scrapping stamp duty—paid when buying a property—and council tax. In its place, the think tank suggests introducing an annual property wealth tax. The report says such a levy on property wealth would encourage households to downsize, potentially freeing up homes. It also argues the new tax could generate revenue to fund social housing. In addition, the report contends that removing stamp duty would reduce upfront costs for buyers and help renters save for a deposit, potentially improving access to home ownership. Both outlets describe the proposal as a package aimed at increasing housing supply and improving affordability, with the replacement tax intended both to change household behavior (by making it more costly to hold property wealth without using it) and to provide funding for social housing. The proposals are presented as policy options from the think tank rather than immediate government action.