Felicity Buchan Meets with the Chancellor

budget

This week I met with Jeremy Hunt, the Chancellor of the Exchequer.  I am in favour of tax cuts but they must be affordable and sustainable.  My recommendations for the next Budget from a Kensington perspective include: 

  • lowering the top end rates of stamp duty which are a tax on social mobility and which are a real disincentive for people to move, whether downsizing or upsizing
  • removing the principal residence from Inheritance Tax
  • reducing Income Tax

The Chancellor’s flexibility for tax cuts will depend on the final OBR forecasts which he will be receiving shortly ahead of the Budget on March 6th.

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