Labour plans hike in stamp duty for overseas buyers

Shadow Chancellor Rachel Reeves plans to increase the additional rate of stamp duty for overseas buyers, slash government consultancy costs and set up a covid corruption commission

In a wide ranging speech at the Labour party conference, Reeves outlined plans to ‘go after those that profited from the carnival of waste during the pandemic. Today the costs to the taxpayer of covid fraud is estimated at £7.2bn.

‘Labour will set up a Covid corruption commissioner supported by a hit squad of investigators equipped with the powers to take the fraudsters to court, and to get the money back from fraudsters.’

Reeves will also take action to cut expenditure on consultancy costs across government departments.

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