First-time buyers totally shunned in the Budget

Commenting on the total disregard of first-time home buyers, David Kuo, Head of Personal Finance at Fool.co.uk, says: “Chancellor Gordon Brown has wasted a golden opportunity to help thousands of Britons onto the housing ladder by steadfastly refusing to trim Stamp Duty. Together with Council Tax and Inheritance Tax, Stamp Duty is one of the three most reviled taxes by British taxpayers, according to a recent survey by Fool.co.uk.

“Instead of making it easy for first-time buyers to climb onto the already-expensive housing ladder, the Chancellor has chosen to further torment buyers with zero stamp duty on zero-carbon homes below £500,000, which are about as rare as hens’ teeth.

“Whilst it is admirable that the Chancellor day-dreams of energy-efficient homes in the future, many first-time buyers are caught in a living nightmare of never being able to buy their own homes.”