Britain slashes property purchase tax for first-time buyers

London

BRITISH Prime Minister Theresa May slashed property purchase taxes for first-time buyers in a bid to win over younger voters who have shunned the ruling Conservatives because they are unable to buy a home.

A shortage of affordable housing in Britain has forced many people to live with their parents for far longer, to rent well into their 30s or buy properties further away from their place of work, pushing the issue to the top of the political agenda.