Oct
01

NEW TAX ON FOREIGN HOME BUYERS TO HELP ROUGH SLEEPERS, PM SAYS

TAX ON FOREIGN HOME BUYERSForeign property buyers will face an extra tax with the money raised being spent on tackling rough sleeping, Prime Minister Theresa May has said.

She said foreign buyers could face a surcharge of 1% or 3% on top of stamp duty to stop them driving up UK prices.

Rough sleeping has been rising for the past seven years that the Conservatives have been in government.

Homelessness charity Shelter said the housing crisis will remain until more social housing is built.

Stamp duty is a tax on properties worth more than £125,000.

“The money we raise from this extra stamp duty is going to be spent on dealing with the issue of rough sleeping,” Mrs May told the BBC’s Andrew Marr programme.

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