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

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 -
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Neil Hall(Reuters)
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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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