Rachel Reeves is to impose a wealth tax in order to boost public spending, it has been reported.

According to The Daily Telegraph , Reeves will not cut public spending but will instead target those with higher incomes or more wealth in her Budget next month.

Sources close to the Chancellor said: “She will be fair when asking those to contribute more to rebuild our public services.” New Feature

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A Treasury insider said Reeves was prepared to make “tough decisions” in order to avoid a return to austerity.

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Reeves to impose wealth tax to fill fiscal black hole

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Rachel Reeves is to impose a wealth tax in

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