The Conservatives are expected to unveil plans to devote £1bn to a tax cut on stamp duty.

If re-elected at the forthcoming general election, the Tory party could raise the threshold from £60,000 to £250,000. The Liberal Democrats have proposed a £150,000 limit, while Labour plans to keep stamp-duty at £120,000.

An ICM poll in todays Guardian newspaper puts Labour on 39%, the Conservatives on 33% and the Lib Dems on 22%.