Philip Hammond has been warned against hiking levies on
buy-to-let properties over fears the move would result in lower revenues for
the Treasury. Two former Conservative cabinet ministers criticised reported
plans for an increase in the government levy charged on buy-to-let purchases,
which are said to be under consideration for the autumn Budget. John Redwood,
the former trade secretary said: “There is no need to increase taxes and if you
carry on increasing them you'll collect less money from people, which is the
opposite of what we want to achieve.” “The answer for the Treasury is cut stamp
duty and you’ll raise more money.” Read more on the Daily Telegraph website.
Sunak claims defence spending plan won’t affect government’s ability to cut
taxes – as it happened
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