The Times Newspaper has released an article claiming that Boris Johnson plans to completely overhaul Stamp Duty.
Boris Johnson’s leadership bid team has revealed that a Bojo premiership would immediately radically cut Stamp Duty if he were to become Prime Minister in a bid to stimulate the housing market.
The measures are to include abolishing Stamp Duty on homes worth less than £500,000 and also reversing the duty increases on more expensive homes, which were raised by George Osborne from 7% to 12%.
All these measures are said to have the hand of Dominic Raab behind them, one of Conservative’s most ardent Brexiteers and right wing ‘low taxation, small government’ proponents. He was also one of the briefest holders of a housing minister post during the May administration.
These changes to Stamp Duty would be announced in an early Autumn Budget to be brought forward by Johnson from its usual October slot to September in a bid to boost the economy, possibly ahead of a no-deal departure from the EU on October 31st, The Times has revealed.