Reeves eyes doubling council tax for a million homes
Families living in highest-band properties face paying up to £10,000 a year
DOMINIC PENNA, NICK GUTTERIDGE, MAYA WILSON AUTZEN
Families face council tax bills of up to £10,000 a year under plans being considered by Rachel Reeves to double rates on more than a million homes.
The Chancellor is said to be looking at proposals to apply a 100 per cent increase to the two highest council tax bands, which would predominantly hit households in London and the South East.
On Saturday night, critics warned that many pensioners, who live on fixed incomes, would be unable to afford such steep increases and would end up “forced out of their homes”.
It comes with Ms Reeves understood to be considering a capital gains tax raid on inherited assets, including property, as well an exit tax on entrepreneurs fleeing Britain.
On top of this, The Telegraph can reveal she wants to restrict benefit claimants’ access to luxury cars, in what will be seen as a bid to demonstrate her commitment to spending cuts and soften the blow on tax rises.
The Chancellor must find £30bn to fill a black hole in the public finances ahead of her Budget at the end of the month and is said to view increases to council tax as one of the easiest ways to raise funds.
One option said to be under consideration is a proposal by the Institute for Fiscal Studies, which would involve doubling rates for properties in the top bands G and H.
The plans would see a typical bill rise from £3,800 to £7,600 for residents of a band G household, and from £4,560 a year to £9,120 for those in a band H home.
The most expensive council tax bill in the country would be in Rutland, where the top level of band H charge would rise to an eye-watering £10,800 a year.
In a pre-budget report, the influential think tank said the plan would net £4.2bn a year by the end of the decade for cash-strapped councils.
[…]
[Kemi Badenoch warned] “Creating new higher council tax bands will hammer people who have lived in the same house for decades, particularly pensioners, some of whom will be unable to pay this new tax and be forced out of their home.”
The Telegraph: continue reading
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On Saturday night, critics warned that many pensioners, who live on fixed incomes, would be unable to afford such steep increases and would end up “forced out of their homes”.
I think this is the idea.