Communities secretary Sajid Javid has told the industry to “keep an eye out” for changes to real estate taxation in this year’s Autumn Statement.
Questioned at MIPIM UK about the damage high levels of taxation were having on the sector, he said Philip Hammond’s statement next month was the “first opportunity” for reform.
“It will give the chancellor an opportunity to allay some of those concerns,” he said.
Asked about possible changes to stamp duty, he said the Treasury kept “all taxes under review to make sure they are efficient in achieving what was intended”.
He stressed any decision on stamp duty was for the chancellor, but said he retained a “strong interest” in the tax, adding: “if the chancellor does want to make a change he will have an opportunity to do it”.
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