Rachel Reeves will use Wednesday’s Budget to target three huge English regions with a raft of new income, savings and property taxes in order to fund spending in Labour ’s traditional strongholds, a financial expert has claimed. Bob Lyddon warned Chancellor is drawing a new dividing line across England – what he calls the “Reeves Wall”, running from the Wash to the Bristol Channel. Everything south of that line, he said, is now in the Treasury’s crosshairs.

Mr Lyddon, founder of Lyddon Consulting Services, said: “Labour intends to soak citizens in every area south of the line from the Wash to the Bristol Channel: the Reeves Wall. The October 2024 Budget attacked their pensions and legacies; now it’s time to hit their incomes, savings and property .”

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