The Daily Telegraph says Chancellor Rachel Reeves is planning to introduce a new tax on high-value homes in the Budget, external. The report says 2.4m properties - across the council tax bands F, G and H - will be affected by the move. Ms Reeves has ditched plans to raise income tax which, according to The Daily Mail, shows she has "lost control", external. The paper says the chancellor has been accused of "presiding over the most shambolic Budget in history". "Investors lose faith in Reeves Budget", external says The Financial Times.

Source: The Times November 15, 2025 14:18 UTC