The last month or two have produced a constant stream of speculation about what Chancellor of the Exchequer Rachel Reeves has up her sleeve for the upcoming Autumn Budget. Some of it is educated guesswork. Some is wild speculation designed to stir up trouble. And quite a lot of it is — or appears to be — what's referred to as 'kite flying': the intentional leaking of the Treasury's back-of-the-envelope policy ideas, in order to gauge the strength of any potential backlash.

What seems pretty clear is that tax rises are on their way as Reeves attempts to plug a black hole in the public finances that could be as much as £40 billion . And it's equally clear that property is very likely to be an area where we see meaningful changes.

The results is that the market is being destabilised by

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