June 28, 2019 / 7:57 AM / 3 months ago

UK housebuilders rally on report UK PM candidate to cut taxes in no-deal budget

FILE PHOTO: Builders stand at the Elephant Park construction project in Elephant and Castle south London, Britain October 05, 2015. REUTERS/Neil Hall

LONDON (Reuters) - Shares in UK housebuilders jumped on Friday after a report that the leading contender to replace British Prime Minister Theresa May is preparing an emergency budget for a no-deal Brexit, which includes overhaul of stamp duty and aggressive tax cuts.

Taylor Wimpey (TW.L), Berkeley Group (BKGH.L), Persimmon (PSN.L) and Barratt Developments (BDEV.L) were all up between 2.1% to 3.3% and were the top performers on the UK blue-chip index FTSE 100 .FTSE.

Boris Johnson’s team wants a series of measures to ensure that the economy is “going gangbusters” by Oct. 31, according to The Times.

Reporting by Thyagaraju Adinarayan; editing by Josephine Mason

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