Reeves is said to be looking to plug her black hole with a mansion tax: a 1% annual levy on all properties worth over £2 million. She did say she was going after the wealthy…
This is a problem for a few members of the Cabinet but one of the worst hit would be Liz Kendall, who lives with her partner James Ind in a Victorian Notting Hill property bought three years ago for £3.9 million. Its value will no doubt have risen in line with London properties since then…
Reeves is unlikely to impose a mansion tax retroactively or this year due to issues with the valuation process, which means 2028/29 is the likeliest year of imposition. At its bought value Kendall’s home would incur an annual liability of £19,000…
The real liability is likely to be higher. Rest assured if the mansion tax doesn’t come in we have the Technology Secretary to thank…
Sarah Pochin at Reform Scotland’s manifesto launch event: “I really wanted to come on in a Reform tartan burka, but apparently I wasn’t allowed… One day let’s do one of these events not live-streamed. We’ll do all the naughty stuff…”