George Osborne has announced that the government will raise tax on buy-to-let properties by three per cent.

The idea behind the stamp duty hike, which will come into force in April, is to cut government spending, raise revenues and to make it easier for people to get on the property ladder.

People buying a home to let should not be squeezing out families who can’t afford a home to buy.

I am introducing new rates of stamp duty that will be three per cent higher on the purchase of additional properties like buy-to-lets and second homes.

  • George Osborne
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