Scottish budget 2015-16: John Swinney details revised property tax plan

John Swinney has confirmed that he will reduce proposed new tax rates on property purchases in Scotland in response to changes already announced by the Chancellor George Osborne.

The Finance Secretary said helping first-time buyers and those already on the property ladder based on fairness and ability to pay remain the underlying principles of the tax as announced in October.

Speaking in Holyrood, Mr Swinney outlined the new tax bands and rates to be applied to residential Land and Buildings Transaction Tax from 1 April 2015.