Kemi Badenoch warns today that Labour is plotting a tax raid on homes for the billions needed to fill the fiscal black hole.
The Tory leader says Rachel Reeves saw property as a ‘cash machine’ to plug the gap in the public finances.
The Chancellor is coming under pressure from both flanks of the Labour Party to bring in a ‘wealth tax’.
She must find £50billion in tax rises or spending cuts to balance the books, the National Institute of Economic and Social Research (NIESR) said last week.
Writing in the Daily Mail, Mrs Badenoch warns that Labour could change council tax bands or introduce a tax on the value of land, adding: ‘A home is more than bricks and mortar. It is the reward for years of hard work, saving and sacrifice. It is security for our families. And it should not be treated like a cash machine for the Chancellor.’
