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Rachel Reeves to hit 100,000 properties with mansion tax to balance books: The Times

Introducing a surcharge, the chancellor aims to hit over 100,000 of Britain’s priciest homes with an average of 4,500, collecting £400-£450 million via council tax bills.
As part of a broader tax package, Rachel Reeves, Chancellor, includes the property levy in a `smorgasbord` of tax rises after scrapping the two-child cap and raising benefits, which are projected to raise £8-£10 billion.
The plan would use a revaluation of 2.4 million properties across bands F, G and H, with the threshold £2 million and deferral until move house or death, according to the Treasury.
The Office for Budget Responsibility warned the surcharge could slow the housing market and trigger `bunching`, but a government source said fallout should be minimal and implementation is unlikely before 2028.
Set against a wider fiscal squeeze, commentators call the measure a compromise that may undermine building 1.5 million homes and sits alongside other revenue measures, including a 4 billion raid on pension contributions.

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Here's what Rachel Reeves’s mansion tax means for wealthy Scots

In a bid to raise £450 million, Chancellor Rachel Reeves is expected to hit England’s wealthiest households with a 'mansion tax'

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The Canary

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Tax the rich, feed the poor — its not rocket science Reeves

Rachel Reeves has announced that she’ll finally lift the two-child benefit cap in her crushing autumn budget. This is probably a good thing, given that third and fourth children also need to eat food and, you know, subsist. Early reports indicate this may even be true of poor children, though, oddly, we have no definitive data on that. Kemi Badenoch, in a rare display of cross-party unity, explains how budgets work: On Wednesday, Starmer and Ree…

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