{"id":6088794,"date":"2022-09-26T08:50:34","date_gmt":"2022-09-26T07:50:34","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6088794"},"modified":"2022-09-26T08:50:34","modified_gmt":"2022-09-26T07:50:34","slug":"stamp-duty-cut-property-market","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/zh-hk\/2022\/09\/26\/stamp-duty-cut-property-market\/","title":{"rendered":"Mini-budget: Stamp duty cut will spur on housing market"},"content":{"rendered":"
The government’s first mini-budget since Liz Truss became prime minister revealed a stamp duty cut among another measures to keep the economy afloat.<\/strong><\/p>\n The Conservatives’ low-tax approach has been cemented with its latest mini-budget<\/a>, delivered by Chancellor Kwasi Kwarteng. In it, he revealed a raft of moves designed to boost the country’s economy through the current inflationary environment.<\/p>\n As with any major tax and spending changes, there were plenty of supporters as well as critics. The top 45% rate of income tax was cut, while the National Insurance hike from February was reversed, putting “more money in people’s pockets”.<\/p>\n However, one of the biggest moves was the “permanent” stamp duty<\/a> cut – rather than a temporary holiday which spurred the market on throughout the Covid pandemic. This is being touted as a way of keeping the housing market<\/a> active while the country faces economic turbulence.<\/p>\n With immediate effect (from 23 September), the stamp duty rates on residential property purchases<\/a> in England and Wales are as follows:<\/p>\nStamp duty cut: the facts<\/h4>\n