Rachel Reeves targets UK’s wealthiest in £26bn tax-raising budget

Chancellor axes two-child benefit cap and cuts energy bills paid for by mansion tax and freezing tax thresholds Analysis: ‘Tax-raising budget crash-lands on struggling economy’Budget 2025: key points at a glanceBudget 2025: what it means for youRachel Reeves targeted Britain’s wealthiest households with a £26bn tax-raising budget, to fund scrapping the two-child benefit policy and cutting energy bills.On a chaotic day that involved key details of her budget accidentally released early by the Office for Budget Responsibility (OBR), the chancellor defended the measures, saying she was “asking everyone to make a contribution to repair the public finances”, but that she wanted the wealthiest to pay the most. Continue reading…