Liz Truss is expected to announce a radical cut to stamp duty in the government’s mini-Budget on Friday.
It is understood that the new prime minister and chancellor Kwasi Kwarteng have been working on the plans for more than a month. It is unclear what form the cuts will take, although Truss has previously said the highest rate was “clogging up” the housing market.
The cuts to stamp duty are being referred to as the “rabbit” to be pulled from the hat in the mini-budget, which the government is billing as a “growth plan”.
