Chancellor confirms stamp duty holiday in summer statement
Chancellor Rishi Sunak has delivered his summer statement to the commons, outlining the government's plans to get UK finances back on a sustainable footing after the impact of Covid-19.
Although employment took centre stage, the chancellor was quick to mention the impact that the pandemic has had on property and housing. Firstly, a new £2bn home insulation scheme, the Green Homes Grant. Under the new scheme, which will be available for homeowners and landlords alike, the government will pay at least two-thirds of the cost of home improvements that save energy.
Mary-Anne Bowring, group managing director at Ringley and creator of automated lettings platform, PlanetRent comments: “This is a vital policy that will make homes greener and cheaper to run and so today's vouchers for home insulation are welcome news.
“The UK’s housing stock is some of the oldest in Europe and this is not just bad for the environment but bad for our health too, with too many properties suffering from problems with damp and cold.
“It is important the government's voucher scheme covers renters, especially as homes in the private rented sector tend to be older.
“Additional financial support to retrofit outdated homes, stamp duty cuts across the board - including landlords - and government pledge to remove all dangerous cladding no matter what the cost would create hundreds if not thousands of jobs, kickstart the housing market and raise the quality of our homes.”