Rachel Reeves Proposes New Levy on Middle-Class Homes

Rachel Reeves introduces new levy on middle-class homes in upcoming Budget, aiming to raise £25 billion for the countrys finances. The surcharge will affect hundreds of thousands of high-value homes, particularly in London and the South East, and could impact many middle-class families living in band F properties. The new levy, using the existing council tax system, will be introduced in 2028, allowing homeowners to defer payment. The strategy aims to balance the books and reduce national debt, with landlords, salary sacrifice schemes, and other asset owners also in the Chancellors sights.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.