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U.K. Budget: Tories cheer Hammond’s “solid” plan

Nov 23, 2017, 5:47 AM EST
Chancellor Philip Hammond rejected the claims that dumping stamp duty would push the prices up.
(Source: EU2017EE Estonian Presidency/flickr)

Conservative MPs have praised Chancellor Philip Hammond for maintaining his fiscal credibility in the U.K. budget 2017, which coincides with new assessments forecasting that the country would grow at sluggish 1.4 percent a year by 2022.

The chancellor scrapped the stamp duty for the majority of first-time buyers while allocating $3 billion for Brexit preparations, writes the BBC. The “controversy-free” Budget could restore some sort of calm in the party following a turbulent phase extending over months.  

Hammond rejected the claims that dumping stamp duty would push the prices up, adding that a package of $15 billion will increase the number of houses built in the U.K., notes The Guardian

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