Kwarteng slashes stamp duty as he pledges to ‘get Britain building’

By Tom Lowe2022-09-23T10:16:00

Chancellor’s ‘mini-budget’ included sweeping cuts to taxes and regulations aimed at reversing construction slump

New chancellor Kwasi Kwarteng has pledged to “get out of the way to get Britain building” as he announced sweeping cuts to taxes and regulations designed to put a shot in the arm of the flagging construction industry.

The stamp duty threshold will be doubled from £125,000 to £250,000 and raised for first time buyers from £300,000 to £425,000 in a permanent cut effective from today as part of a package of measures announced this morning.

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