Budget 2024: The key property announcements made by Rachel Reeves and how they will affect you
manchestereveningnews.co.ukChancellor Rachel Reeves delivered Labour's first budget to the House of Commons today (October 30), marking the country's first budget in history to be given by a female Chancellor.
Rachel Reeves has committed to Labours promise to 'secure stability to this country, fix foundations and deliver change through responsible leadership', by increasing taxes by £40 billion.
The Chancellor of the Exchequer made announcements on taxes, wages, pensions, benefits and the cost of living, including several changes to the housing sector from stamp duty to housebuilding and Capital Gains Tax. READ MORE: Major stamp duty rise coming into force from TOMORROW Rachel Reeves announced a rise in stamp duty tax for second-home buyers, which will change from 3 percent to 5 percent from tomorrow (October 31).
This will apply to properties priced between £40,000 and £250,000. However, first-time buyers will benefit as they continue to be exempt from paying stamp duty on homes priced up to £425,000.
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