Reeves to hit 100,000 high-value properties with mansion tax in Budget

"From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground."

"Rachel Reeves could hit more than 100,000 high-value properties with a mansion tax at this week's Budget as she seeks to raise money to fill her financial blackhole. The chancellor has reportedly scaled back plans for a property tax but is now expected to apply a tax to homes worth more than 2 million in a move which could raise between 400m and 450m for the Treasury."

The Independent delivers on-the-ground reporting across topics such as reproductive rights, climate change and Big Tech, undertaking investigations like examining Elon Musk's pro-Trump PAC and producing the documentary 'The A Word' that highlights American women fighting for reproductive rights. The outlet seeks donations to fund journalists who can report from both sides and remains accessible without paywalls, relying on supporters to fund quality journalism for all. Chancellor Rachel Reeves is planning Budget measures that could include a mansion tax targeting homes worth more than £2 million to raise an estimated £400–450 million. Around 2.4 million properties in top council tax bands F, G and H will be revalued to identify surcharges averaging about £4,500, with the option to defer payments until death or moving to avoid forced sales; the threshold was raised from £1.5 million to limit impact on asset-rich, cash-poor households, especially in London.

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