FURNESS Building Society is campaigning to persuade Chancellor Gordon Brown - in Brighton for the Labour Party conference this week - to raise the threshold on Stamp Duty to start at £150,000 in line with current house price inflation.

The Furness has joined forces with the West Bromwich Building Society to promote the national Raise the Roof' campaign. Already more than 12,000 people have signed a petition since it was launched in early May.

At present, the first band of Stamp Duty is charged at one per cent on properties over £60,000. Because of the rise in house prices in recent years, the majority of properties are now hit by Stamp Duty.

Campaign organisers are concerned that many would-be first-time buyers simply cannot afford to enter the housing market given rising house prices and the legacy of student debt.

They say those that struggle through to purchase their first home are then punished by the tax. Organisers argue this is unfair and contrary to the Government's stated position of encouraging house ownership.

Furness Building Society will support the campaign with petitions for customers and staff in each of the society's branches.

Rob Cairns, chief executive, said: "The £150,000 threshold on Stamp Duty is something the Furness has been lobbying for over the past 12 months. It is therefore only right that two extremely high profile societies such as ours join forces to support this excellent campaign."