GBAF Logo
UK finance minister Reeves plans tax raid on owners of expensive homes, FT reports - Headlines news and analysis from Global Banking & Finance Review
Headlines

UK finance minister Reeves plans tax raid on owners of expensive homes, FT reports

Published by Global Banking & Finance Review

Posted on October 31, 2025

1 min read

· Last updated: October 31, 2025

Add as preferred source on Google
tax administration UK economy financial management

UK Finance Minister Proposes Higher Taxes on Luxury Homeowners

(Reuters) -British finance minister Rachel Reeves is planning a budget tax raid on the owners of expensive homes, with new, higher bands of council tax seen as the best way to raise several billion pounds for the cash-strapped exchequer, the Financial Times reported on Friday.

Reuters could not immediately verify the report.

(Reporting by Mrinmay Dey in Bengaluru; editing by Diane Craft)

Key Takeaways

  • Rachel Reeves plans a tax increase on luxury homeowners.
  • New council tax bands are proposed to raise funds.
  • The Financial Times reported the planned budget tax raid.
  • The initiative aims to support the cash-strapped exchequer.
  • Reuters has not yet verified the report.

Frequently Asked Questions

What is council tax?
Council tax is a local taxation system in England, Wales, and Scotland, used to fund local services such as education, waste collection, and public safety. It is based on the estimated value of a property.

Tags

Related Articles

Image for UK nationals on hantavirus-hit cruise ship to isolate in hospital on return

UK nationals on hantavirus-hit cruise ship to isolate in hospital on return

Image for Settlers force re-burial of Palestinian man in West Bank, family says

Settlers force re-burial of Palestinian man in West Bank, family says

Image for Gaza flotilla activists to be released from Israel detention and deported

Gaza flotilla activists to be released from Israel detention and deported

Image for Ukrainians welcome respite from Russian attacks, Moscow says peace still far off

Ukrainians welcome respite from Russian attacks, Moscow says peace still far off

Image for Merz says Europe wants a strong NATO and shares US goal of ending Iran war

Merz says Europe wants a strong NATO and shares US goal of ending Iran war

Image for Australia's far-right party wins first lower house seat

Australia's far-right party wins first lower house seat

More from Headlines

Explore more articles in the Headlines category

Image for Kremlin says peace in Ukraine is still a very long way off
Kremlin says peace in Ukraine is still a very long way off
Image for UK police charge two men in connection with filming antisemitic TikTok videos
UK police charge two men in connection with filming antisemitic TikTok videos
Image for US, Iran no closer to ending war as Gulf clashes flare 
US, Iran no closer to ending war as Gulf clashes flare 
Image for Indonesia locates two Singaporeans missing after Mount Dukono eruption
Indonesia locates two Singaporeans missing after Mount Dukono eruption
Image for Analysis-Trump's feuds, tensions with allies likely to outlast Iran war
Analysis-Trump's feuds, tensions with allies likely to outlast Iran war
Image for US arranging repatriation for Americans on cruise ship hit by hantavirus
US arranging repatriation for Americans on cruise ship hit by hantavirus
Image for North Korean leader Kim calls ties with Russia top priority in Victory Day message to Putin
North Korean leader Kim calls ties with Russia top priority in Victory Day message to Putin
Image for US revises UN resolution on Iran but China, Russia still expected to veto
US revises UN resolution on Iran but China, Russia still expected to veto
Image for Ukraine's Zelenskiy confirms US announcement of ceasefire, prisoner exchange
Ukraine's Zelenskiy confirms US announcement of ceasefire, prisoner exchange
Image for Trump announces three-day ceasefire between Ukraine and Russia
Trump announces three-day ceasefire between Ukraine and Russia
Image for Palestinian American developer asks US judge to dismiss lawsuit alleging he aided Hamas
Palestinian American developer asks US judge to dismiss lawsuit alleging he aided Hamas
Image for Greece investigating Ukrainian-made naval drone found in cave at island
Greece investigating Ukrainian-made naval drone found in cave at island
View All Headlines Posts