London Homeowners Should Fear Reeves Budget: Matthew Brooker

Britain’s regressive and arbitrary system of local property taxation is in need of a root-and-branch overhaul — and has been for decades. A swirl of speculation and background briefings has left little doubt that taxes on the most expensive homes will be increased in this month’s budget. What’s now under discussion looks more like a sticking plaster, though. Political pragmatism and fiscal pressures mean that’s no surprise. It’s still a missed opportunity.

Chancellor of the Exchequer Rachel Reeves sees new, higher bands of council tax as the best way to raise several billion pounds to help shore up Britain’s public ...