The Chancellor of the Exchequer, Gordon Brown, has frozen the level of stamp duty, defying mortgage industry calls for the threshold to be raised in order to aid the dwindling number of first time buyers.
In his speech the chancellor announced that the threshold for inheritance tax would be increased to £263,000 from £255, 000.
He also accepted the findings of the Barker Review on the rented sector and said it was in the country’s interest that more affordable housing was made available.
It was also important that the UK maintained low interest rates, he said.
Capital gains tax will be frozen at its current level.
