Bipartisan cuts in stamp duty charges for property owners

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Bipartisan cuts in stamp duty charges for property owners

Home ownership is the most common way for people to own an asset, which gives them a stake in the success of our economy and society, as he presented his mini-budget, Mr Kwarteng told the Commons.

Under the changes announced by the chancellor, anyone spending 250,000 on a property in England or Northern Ireland will be able to avoid 2,500 stamp duty charges, as it was previously charged at 2% between 125,000 and 250,000.

She wouldn't have paid any stamp duty because of the cut in stamp duty. She is worried that it will push up house prices even more.

She says that house prices are crazy at the moment and I think this is going to make them more ridiculous.

When my mum bought her first house, she says it was 50,000. I wish it was like that now because I could buy a house tomorrow! We had originally planned to pay 5,000 in stamp duty, but now we will be able to use that money for furniture and some work on the property. We are the lucky ones of our generation as we have had the privilege of saving with parents for the past three years. He said that would be good for the market, but also for job and social mobility across the board, as well as the wider economy.