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2017 Budget

Chancellor of the Exchequer Philip Hammond has delivered his second Budget. Here we have revealed the key announcements made.

For more on how today's Budget will affect your finances, read Telegraph's personal finance editor Richard Evans explain all here.

Stamp duty

From today, the government will abolish stamp duty for all first-time buyers for homes worth up to £300,000, and buyers will pay £5,000 less on purchases between £300,000 and £500,000.

This will mean 80pc of first-time buyers pay no stamp duty, helping them get on the housing ladder, the government said.

At a glance │ New stamp duty costs

Property Price Before Budget 22 November Onwards
£200,000 £1,500 £0
£300,000 £5,000 £0
£400,000 £10,000 £5,000
£500,000 £15,000 £10,000
Above £500,000 Stamp duty due is unchanged on purchases above £500,000 Stamp duty due is unchanged on purchases above £500,000

Housing

The Chancellor says that over the next five years the government will provide a £44bn capital investment to boost the housing market.

By the mid-2020s there should be 300,000 homes being built every year – the highest level since the 1970s.

Hammond also announced plans to allow councils to charge a 100pc premium on council tax on empty properties.