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Features and comment

Showing 2 articles, in Economy

10 July 2020 | 5 minutes

Rishi Sunak’s stamp duty cut is not about helping first-time buyers, but shoring up the whole UK economy

One of the big winners in UK chancellor Rishi Sunak’s summer statement is the housing market, where stamp duty has been scrapped for all house purchases under £500,000 until March 2021. This will cost the Treasury £3.8 billion, about 0.4% of the total tax take, and comes in response to four months of falls in house prices – their worst performance in almost a decade.

10 July 2020 | 4 minutes

Summer statement: £2 billion scheme will not be enough to prevent mass youth unemployment

There are nearly seven million 16-24 years olds in the UK. As many of this group finish school, college or university, they face the real prospect of long-term unemployment.

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