If I were Chancellor

In these troubled times while easing interest rates can rapidly increase disposable incomes and help stimulate investment the tax system can further help by providing targeted stimuli to those areas of the economy most in need of assistance.

If I were Chancellor I would look to encourage inward investment to the UK by immediately cutting the main rate of corporation tax to 25% as well as moving swiftly to remove doubts over proposals to tax companies' offshore income.

I would look to stimulate the housing market by cutting SDLT to nil for a two-year period on all properties under £1 million and announce plans to modernise the system by removing the current 'lock steps' replacing it with a progressive approach with increased rates applying only to amounts above the threshold rather than to all the price.

I would also consult on a regional SDLT system...