Rachel Reeves' plan to raise landfill tax could slap £24,000 onto the price of new-build homes in a fresh blow for struggling first-time buyers, critics have claimed.
Industry chiefs fear the Chancellor's 'insane' proposal could see a 36-fold increase to the levy, causing construction costs to skyrocket.
Critics have even claimed the 'development killer' scheme could lead to firms either stopping construction of new homes or demanding higher prices from buyers.
Fears over the tax hike come after Labour vowed to build 300,000 homes a year to tackle the nation's housing crisis.
Ms Reeves wants to scrap the lower landfill rate charged on waste such as topsoil, rocks and clay, and replace it with the much higher standard levy.
