Labour warned property tax raid will push up cost of family homes [Yahoo! Finance]
TAYLOR WIMPEY UNSP/ADR (TWODY)
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Source: Yahoo! Finance
A Labour tax raid on upmarket homes risks pushing up property prices and stalling middle-class families on the housing ladder, a major British housebuilder has warned. Jennie Daly, the chief executive of Taylor Wimpey, said a tax assault from Rachel Reeves , the Chancellor, in her Budget next week would distort the property market and price out families looking to upsize. The warning comes as new data Monday showed that Budget speculation over a potential tax raid and rumoured stamp duty changes had weighed on the sales of the UK's most expensive homes. Sales agreed for homes worth over £2m have fallen 12pc year-on-year. Fears have risen that Ms Reeves will target upmarket homes in her Nov 26 Budget as part of a bid to plug a multi-billion pound hole in the public finances – but Ms Daly said more complexity will send a chill through the market. “It would certainly have a negative impact, even if it was only in a particular part of the market,” Ms Daly said. “To increase dem
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