The high-value council tax surcharge may only raise £400m but it’s the best opportunity for a bigger, fairer tax on wealth
Rachel Reeves won little credit last week for lifting the lid on one of the most heated tax debates of the past three decades.
Who in their right mind would consider engaging in the fight that would inevitably lead to some of the richest people in the land calling for your head?
Gordon Brown ran scared and so, too, did countless Tory chancellors.
Yet Reeves has put her hand in the fire, saying in the budget that she would revalue about 2.4m of the most valuable homes in England with a view to slapping a “mansion tax” – an escalating surcharge – on about 100,000 of them from April 2028.
