Sajid Javid denies making comments about switching the stamp duty burden from buyers to sellers, after commentators accuse the new Chancellor of 'killing the property market'

UPDATED: Consultation launches on proposed new 1% surcharge for non-UK residents

According to buying agency Ludgrove's workings, a 36% reduction in Stamp Duty rates across the board would likely lead to 40% additional transactions in England per annum, in turn generating an extra £1.

“We would urge the Government to undertake a full-scale review of the current stamp duty land tax system," says the Royal Institute of Chartered Surveyors.