Reeves ‘plots tax raid on landlords’ to help plug £40bn Budget black hole
Reeves ‘considers raising taxes for landlords’
- Chancellor Rachel Reeves is reportedly considering applying National Insurance (NI) to rental income.
- This measure aims to raise an estimated £2 billion to help address a £40 billion deficit in the nation's finances.
- The proposal involves levying an 8 per cent National Insurance contribution on rental earnings, which are currently largely exempt.
- Supporters argue this would make the tax system fairer and could encourage landlords to sell, potentially increasing housing stock for buyers.
- Critics, however, warn that such a move could lead landlords to exit the market, thereby restricting the supply of rental properties and driving up rents.