Spain's Prime Minister, Mariano Rajoy, has said now is "the best moment for change", following the decision of King Juan Carlos I to hand over the throne to his son, Crown Prince Felipe.
Addressing reporters this morning, Mr Rajoy said: "His majesty, King Juan Carlos, has just communicated to me his will to give up the throne. I'm convinced this is the best moment for change."
Mr Rajoy said the surprise decision was due to personal reasons.
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Stamp duty is to be abolished for first-time buyers on properties up to £300,000, Chancellor Philip Hammond has announced in his Budget.
Chancellor Philip Hammond has delivered his Budget which he believes will help build "a Britain fit for the future".
Stamp duty for all first-time buyer purchases up to £300,000 is to be abolished immediately, Philip Hammond has announced in his Budget.