A lot of the reaction to the recent not-a-Budget described Kwasi Kwarteng’s tax-slashing exercise as “good for London”.
In some ways the logic behind this is clear: faced with the UK’s most expensive homes, London first-time buyers will see the biggest reduction in their property tax bill thanks to the stamp duty cut, which has raised both the threshold at which people start to pay the tax and the upper limit on how much a property can cost while still qualifying.
