Rachel Reeves is keeping the option of higher property taxes on the table as she draws up plans for a Budget that will need to fill a black hole in the public finances estimated at more than £20bn.

The Chancellor’s allies have refused to rule out ideas such as a “mansion tax”, while emphasising that no final decisions have been made ahead of the Budget on 26 November .

But with Labour’s manifesto promising to avoid hikes to income tax, national insurance and VAT – though that pledge is now in question – and businesses struggling with an increased tax burden, major changes to the taxation of people’s homes may be needed to make the sums add up. New Feature

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Mansion tax on house sales

Reeves has promised to target those with the “b

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