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



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