00:01For anyone struggling to climb the housing ladder, the challenge could soon be shaped by changes to tax.
00:07Chancellor Rachel Reeves faces difficult decisions ahead of the budget on the 26th of November.
00:13Economists warn she risks breaking her own borrowing rules unless she can raise billions to cover the gap between tax income and government spending.
00:21With rises in income tax, national insurance and VAT ruled out, attention has turned to property.
00:26Reports suggest ministers are considering abolishing stamp duty in England and Northern Ireland.
00:32The tax is paid when a home is bought, raising more than £11 billion last year.
00:37At the moment, no stamp duty is due on homes under £125,000 and first-time buyers are exempt up to £300,000.
00:47But scrapping it altogether would leave a big hole in the public finances.
00:50One option being explored is a yearly property tax on homes worth more than half a million pounds,
00:56replacing the upfront levy with an ongoing charge.
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