Budget 2017 cuts stamp duty for first-time buyers
| Updated Nov 22, 2017 at 4:25pm
Chancellor Philip Hammond has abolished stamp duty for most first-time buyers in England and Wales in his Budget.
The change, effective immediately, will apply to the first £300,000 of a home's value, saving first-time buyers £5,000.
Mr Hammond also promised £1.5bn to "address concerns" about the flagship universal credit scheme, and unveiled lower growth forecasts.
Labour leader Jeremy Corbyn said the government had a "record of failure with a forecast of more to come".
SOURCE: BBC NEWS