<p>The industry has been reacting to the government’s cut to stamp duty and plans to create investment zones which will see liberalised planning rules, as part of its mini-Budget announced earlier today (September 23).</p> <p>Stewart Lynes, ceo of Miller Homes, described the stamp duty strategy as a “shot in the arm”, <span>especially </span>for first time buyers. “The increase in threshold in particular for first time buyers to £425,000 is significant and I’m sure will benefit many individuals across England looking to get onto the property ladder.”</p> <p>The move, Lynes said, “demonstrates the government’s vision to unlock home ownership for a new generation.”</p> <p>Meanwhile, Matthew Pratt, Redrow’s ceo, said the business welcomed the changes to stamp duty but a wholesale <span>revision of the tax was needed. </span></p> <p><span>He commented: “</span>Stamp duty needs to be reformed to help the housing market work more effectively and to stimulate more transactions, which will in itself drive tax generation throughout the home buying supply chain of estate agents, solicitors, removals, furnishings, etc. </p> <p>“We would encourage the government to consider further steps to reduce the stamp duty burden by reducing the tax bands across all levels, and introducing a lower, flat rate of tax for …