| UPDATED: 16:04, Fri, Jan 15, 2021
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The nine-month tax break on the first £500,000 value of home purchases was introduced by the Chancellor last July but is set to end at the end of March. The move triggered a major boom in the housing market at a time of struggle during the coronavirus pandemic but has so far cost taxpayers an eye-watering £3.3billion. Mr Sunak has come under mounting pressure to extend the tax relief beyond its initial nine-month period amid fears the housing market could suffer a disastrous crash.