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“This Is Going To Be DISASTROUS” | Rachel Reeves Says There Could Be MORE TAXES To Come
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“This Is Going To Be DISASTROUS” | Rachel Reeves Says There Could Be MORE TAXES To Come
Second home buyers and landlords will face higher stamp duty fees starting Thursday, Chancellor Rachel Reeves announced. In her first Budget, she raised the surcharge for second homes from 3% to 5%, while also deciding not to extend the previous stamp duty breaks for primary homes. For example, a second home purchase worth £309,572 will now incur £18,457 in stamp duty, up from £12,265—a 50% increase. This will rise further to £20,957 after March 31, marking a 71% increase. Additionally, Housing Secretary Angela Rayner confirmed cuts to ‘Right to Buy’ discounts, reducing the maximum from over £100,000 to £38,000. Experts criticised the increase, calling it a “blow to landlords.” The Treasury expects this change to raise an additional £310 million by 2030. Dr David Bull speaks with The Times Money Matters Editor at Large, Georgie Frost. #news #politics #money #finance #property #uk #tax #labour #talk #talkradio
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