First time buyers 'shunned' by Budget

23-Mar-2007

An expert has claimed that Britain's first time buyers have been left out in the cold by this year's Budget.

According to David Kuo, head of personal finance at The Motley Fool, rather than removing stamp duty payments on zero-carbon properties below £500,000, the chancellor should have modified thresholds in a manner that benefits first time buyers.

"Chancellor Gordon Brown has wasted a golden opportunity to help thousands of Britons on the housing ladder by steadfastly refusing to trim stamp duty," said Mr Kuo.

"Instead of making it easy for first time buyers … the chancellor has chosen to further torment buyers with zero stamp duty on zero-carbon homes," he added.

Find out more about the house-buying process including stamp duty, home information packs and conveyancing click here.

In related Budget news, as part of a package of measures, the chancellor also announced plans to reduce the basic rate of income tax by 2p, in addition to increasing small business rates by 3p.

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