The number of pledges from the new Prime Minister seemed to have been growing by the day during his campaign, each more eye catching than the last, and now he has the opportunity to make those pledges a reality.
His pledge to reduce the residential Stamp Duty Land Tax (SDLT) threshold is of serious interest to those in the sector. If seen through this will be one of the most significant changes in SDLT since the removal of the "slab" system and has the potential to remove the majority of residential transactions out of the grasp of SDLT; the current average house price is under £250,000, well below the proposed new threshold.
Boris has however promised numerous tax cuts and giveaways, it remains to be seen whether these can be costed and even make it through parliament - especially given the other priorities of the Government.
All eyes on Boris...
Johnson plans to drastically raise the threshold for paying stamp duty from its current level of £125,000 to £500,000 at the same time as lowering the top rate from 12pc to 7pc