Duty

PM tells Commons extending the temporary 5p cut is a necessary response to cost-of-living pressuresUK politics live – latest updatesKeir Starmer has announced an extension to the temporary 5p cut in fuel duty, as widely expected, telling the Commons it was a necessary response to cost-of-living pressures.Before a wider package of measures due to be announced by Rachel Reeves, the chancellor, on Thursday, Starmer used prime minister’s questions to announce the extended freeze and a vehicle tax break for the haulage industry. Continue reading...

Centre for London report finds levy on property wealth would free up homes, fund social housing and help renters save for depositsStamp duty should be scrapped and replaced with a new property wealth tax to fix London’s housing crisis, a leading thinktank has proposed.A report on the capital’s property market suggests an annual tax to replace the levy paid when buying a property and council tax would encourage downsizing and raise funds for social housing. It would also help renters to save a house deposit. Continue reading...

Chancellor has been under pressure to extend 5p temporary cut at an estimated cost to government of £2.4bn a yearUK politics live – latest updatesRachel Reeves is planning to cancel a rise in fuel duty this week when she unveils a package of measures to reduce the cost of living.The chancellor will announce she will not put up the tax by 1p as was due to happen in September, government sources said, and she could cancel all of a 5p rise that is due to happen in stages over the subsequent six months. Continue reading...