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Thursday, September 4, 2008

UK takes steps to boost property mart

LONDON: With the British economy forecast to slip into recession, Prime Minister Gordon Brown's government unveiled a raft of measures to perk up the sluggish housing market - and its own flagging fortunes on Tuesday.

The Treasury said homes worth up to STG175,000 (STG1 = RM6.13) would be exempted from property sales tax, or stamp duty, for a year.

The government also laid out steps to help first-time buyers and to help homeowners at risk of repossession.


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