UK to Abolish Holiday Home Tax Breaks to Tackle Housing Shortage [BNN Bloomberg (Canada)]
PERSIMMON PLC UNSP/ADR (PSMMY)
NASDAQ:AMEX Investor Relations:
persimmonhomes.com/corporate/investors
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Source: BNN Bloomberg
to sell as residents in the country's tourist hot spots struggle to buy their own properties. Hunt delivered a range of pledges at the House of Commons on Wednesday, including scrapping the furnished holiday lettings regime that gave tax breaks to people renting second homes out on a short-term basis. The chancellor also pledged to reduce the higher rate of capital gains tax to 24% from 28% on residential sales in a bid to encourage existing holiday home owners to sell, freeing up more stock for local buyers. Read more: Britain's Chronic Housing Shortage Is About to Get Even Worse UK households are facing a stream of pressures — triggered by high interest rates, a cost-of-living squeeze and worsened by a housing shortage — which are pricing many out of homeownership. Meanwhile, the Conservative Party is bidding to claw back public support on housing, with the opposition Labour leading in the polls ahead of a general election expected this year, while shying away from radical mea
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