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Rachel Reeves has been warned that her reported plans for a mansion tax would not fill the £50bn Budget black hole – and that UK property taxes need a much wider overhaul.
The chancellor is said to be considering a levy on owners of properties worth at least £2m, who would face an annual charge of 1 per cent of the amount over that threshold – meaning a £10,000-a-year fee for homes worth £3m.
But Ms Reeves is now facing calls to go even further, with economists and MPs calling for a comprehensive reform of propert
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