UK's Hunt to reduce capital gains tax on property sales

British Chancellor of the Exchequer Jeremy Hunt holds the budget box on Downing Street in London

LONDON (Reuters) - British finance minister Jeremy Hunt will lower the amount of capital gains tax charged on property sales to 24% from 28%, he said on Wednesday.

Capital gains tax usually applies on the sale of second homes.

(Reporting by David Milliken and Kylie MacLellan; Writing by Suban Abdulla; editing by William James)