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UK Chancellor Rachel Reeves Pushes Property Tax Reform to Boost Economy
UK Chancellor Rachel Reeves Pushes Property Tax Reform to Boost Economy
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BTCCSquare news:
Chancellor Rachel Reeves has directed Treasury officials to overhaul the UK's property tax system, aiming to stimulate economic growth and close a potential £20 billion public finance gap. The reforms target simplifying housing taxes and revising England and Northern Ireland's controversial stamp duty—a levy critics say stifles mobility with excessive transaction costs.
The Treasury's work remains in early stages, but officials confirm the changes will anchor Reeves' budget strategy. While tax adjustments FORM part of the plan, the broader imperative remains reigniting GDP growth in an economy facing persistent headwinds.
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