Developers say government’s planned tax hike could make the housing crisis worse
On Monday, the first day of the Tory party conference in Birmingham, Theresa May unveiled plans to force foreign buyers and offshore companies to pay between 1% and 3% extra stamp duty. Justifying the move, the prime minister said:
“It cannot be right that it is as easy for individuals who don’t live in the UK, as well as foreign-based companies, to buy homes as [it is for] hardworking British residents.”
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