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Reeves to scrap two-child benefit cap in Budget to appease Labour rebels: Report
Chancellor Rachel Reeves will remove the two-child benefit cap and introduce wealth taxes including a mansion tax and gambling levy to address a £20 billion spending gap.
- On Tuesday Chancellor Rachel Reeves will scrap the two-child cap on child benefit and introduce a package of wealth taxes in the UK Budget.
- Backbench pressure forced a policy reversal as The Treasury briefed last week that improved Office for Budget Responsibility estimates and pressure from backbenchers prompted ministers to abandon a planned income tax rise.
- Plans under discussion include a mansion tax on properties worth more than 2 million, capped at a maximum 5,000, a gambling profits levy, and a bank levy .
- Downing Street briefings linked the Budget to Prime Minister Sir Keir Starmer's future amid accusations that Wes Streeting, Health Secretary, plotted to replace him, raising internal tensions involving Angela Rayner and Lucy Powell.
- Facing economic shocks, Ms Reeves still needs an economic buffer beyond last year's sum due to Donald Trump's tariffs, market uncertainty, and critics warning while meeting the defence spending target 2.5 per cent of GDP.
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Coverage Details
Total News Sources25
Leaning Left9Leaning Right4Center7Last UpdatedBias Distribution45% Left
Bias Distribution
- 45% of the sources lean Left
45% Left
L 45%
C 35%
R 20%
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