Rishi Sunak

  • Regulation & Law
    Regulation & Law

    Stamp Duty hike for overseas buyers of UK property

    Formally announced in the Budget, a stamp duty surcharge of 2% of the purchase price of a property for buyers from overseas will take effect next year.

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  • Regulation & Law
    Regulation & Law

    Chancellor unveils £30bn Budget spending boost

    Sunak launches massive £30bn stimulus package to boost UK economy including major boost for UK housebuilding.

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  • Latest property newsLink to Stamp Duty news
    Latest property news

    Johnson makes U-turn on mansion tax plans after heartlands backlash

    Boris Johnson has scrapped government plans to introduce a mansion tax after a backlash from his party’s traditional bricks-and-mortar owning heartland. Over the weekend the new Chancellor Rishi Sunak said it was ‘highly unlikely’ that the measure would proceed, while the Prime Minister is said to have ‘cooled’ on the idea despite heralding it last week as a key policy to enable the UK to be ‘levelled up’ economically. But another reason for the ditching of the idea has been forming over the weekend among political commentators; that the mansion tax proposals were part of a plan by Johnson and his chief aide Dominic Cummings to oust Sajid Javid from No.11 if he didn’t go along with their plans to downgrade the power of HM Treasury. The idea was clearly not Javid’s. As property industry figure Trevor Abrahmsohn (left) found out after attending a private meeting recently with the now former Chancellor, he is unlikely to have adopted what has been in the past a Labour policy. “It was evident that he was a ‘fiscal pragmatist’, i.e. he believed in the notion that taxes are designed to raise as much money as possible for the Treasury, rather than being a…

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