It’s only been a few working days since the government’s mini-budget hit the financial markets like a bad stink, which makes you wonder whether there will be any backtracking on any of the policies that were announced.
The government has unveiled plans to introduce regional “investment zones” where stamp duty will be abolished, employment taxes will be slashed and planning rules will be loosened.
The value of pound and stocks have both tumbled following the government’s mini-budget, signalling that investors are questioning the government’s succession of tax cuts.
As was publicised this week, new Prime Minister Liz Truss is looking to cut stamp duty in what’s being dubbed a mini-budget, according to a report in The Times.
The government should put in a 12-month exemption to the 3% stamp duty surcharge to boost buy-to-let purchases, according to agency group Propertymark.
Liz Truss’s new government has moved to cap energy bills at an average of £2,500 per year until 2024 in a bid to mitigate the impact of rising energy costs.
Simon Clarke has taken the role of housing secretary, ending Greg Clarke’s two-month stint in the role.
Scotland has announced that it will freeze rents until Spring in a bid to mitigate the impact of rising energy bills.
Liz Truss’s appointment as Prime Minister means the Conservative manifesto pledge to build 300,000 homes a year is likely to be dead in the water.
Liz Truss has appointed a team of senior ministers, including Kwasi Kwarteng as Chancellor of the Exchequer.
