Housing Secretary Michael Gove suggested to the Times that the Conservatives will promise to cut the up-front cost of a home for first-time buyers in a pre-election giveaway. And the Prime Minister has ordered a “gear change” to reduce the historically high tax burden, possibly axing inheritance tax and reducing income tax, according to the Telegraph. The Times said that ministers are considering Government support for longer fixed-term mortgages to reduce the size of deposits for first-time buyers. Asked by the Times whether the Conservatives would be able to go into the election expected next year promising more help for first-time buyers, Mr Gove said: “Oh, yes, we must. Definitely.”Meanwhile, the Telegraph said senior figures in No 10 were considering a handful of major tax cuts as Mr Sunak comes under continued pressure from Tory MPs.

Source: The Times December 27, 2023 11:56 UTC