hancellor Rachel Reeves has ordered Treasury officials to examine reforms to property taxation as she seeks ways to raise cash and boost the economy, say people familiar with the discussions.
Officials are looking at a host of possible ideas for improving and simplifying the tax system, including by overhauling levies on housing, as Reeves seeks to lift lacklustre GDP growth and address a looming gap in the public finances that could exceed £20bn. The current stamp duty system, which applies in England and Northern Ireland, is criticised by economists because it is charged on transactions, acting as a disincentive to people moving and sapping growth.
The process in the Treasury was at an early stage and no conclusions had been drawn, the people said. But Reeves has told colleagues she wants tax reform to be a big part of her autumn Budget.
The Treasury said: “The best way to strengthen public finances is by growing the economy — which is our focus. Changes to tax and spend policy are not the only ways of doing this . . . We are committed to keeping taxes for working people as low as possible.”
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- Опубліковано8 вересня 2025 р. о 23:00 UTC
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