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Chancellor Reeves Faces Pressure for Wealth Tax Reforms

11/22/2025

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Summary

Story summary

Chancellor Rachel Reeves is preparing to raise taxes in her Budget on November 26 to address a multibillion-pound spending gap.
She faces pressure from Green Party leader Zack Polanski, proposing a wealth tax of 1% on wealth above £10 million and 2% above £1 billion.
The IPPR think tank advocates taxing landlords and reforming property taxes, urging Reeves to prioritize measures that lower living costs for working people.

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Story summary

Chancellor Rachel Reeves is preparing to raise taxes in her Budget on November 26 to address a multibillion-pound spending gap.
She faces pressure from Green Party leader Zack Polanski, proposing a wealth tax of 1% on wealth above £10 million and 2% above £1 billion.
The IPPR think tank advocates taxing landlords and reforming property taxes, urging Reeves to prioritize measures that lower living costs for working people.