The chancellor’s stamp duty cuts are more likely to benefit buy-to-let landlords and second home hunters than first time buyers.

The stamp duty holiday, VAT cuts and vouchers to eat out all featured in the chancellor’s mini-budget yesterday.

The heavily trailed proposals, including a stamp duty holiday for properties under £500,000, equate to a further £30bn of spending to help the UK economy recover from coronavirus.

Critics have pointed out that the changes to stamp duty will most benefit the owners of costlier properties and second homes, and do little to “kick-start the housing market”.

Homeowners and landlords will also be eligible for two-thirds off the cost of green upgrades and firms will receive get £1000 for every worker brought back from furlough.