Rishi Sunak has drawn up proposals to exempt most homebuyers from paying any stamp duty under plans to kick-start Britain’s economic recovery.
The chancellor will reveal plans this week to lift the threshold at which people start paying stamp duty from £125,000 to as much as £500,000.
The increase in the threshold, which is expected to be implemented in the autumn budget, is a temporary measure intended to stimulate the housing market. Mr Sunak will announce the plans on Wednesday as part of several measures to support the economy, including a temporary VAT cut for pubs, restaurants and cafés to help to protect 2.4 million jobs in the hospitality sector.
He will also reveal plans to give companies £1,000 for each apprentice they take on
