Property experts urge Rachel Reeves to abolish ‘sin tax’ of stamp duty in budget

Chancellor advised to replace levy with an annual property tax as Treasury considers overhaul of system

Rachel Reeves has been urged to abolish the sin tax" of stamp duty in the budget by property experts including TV presenter Kirstie Allsopp, as the chancellor faced calls to replace it with an annual property tax.

Allsopp, presenter of Channel 4 property shows including Location, Location, Location, said people are in a panic" about potential stamp duty changes, and sitting tight" ahead of the 26 November budget.