A “mansion tax” is likely to be popular with voters, pollsters have said, amid reports that Rachel Reeves is considering announcing a levy on higher value properties in her autumn Budget.

Ministers have not ruled out plans to remove relief from capital gains tax (CGT) on homes worth over £1.5m, as the Chancellor searches for ways to plug a likely £40bn shortfall in the public finances.

Removing the current exemption from CGT for primary residences would see higher-rate taxpayers pay 24 per cent of any gain in the value of their home, if it was priced over the threshold, when they came to sell – while basic rate taxpayers would be hit with an 18 per cent levy, according to The Times .

The Treasury refused to comment on what it called speculation three months ahead of the Budget, bu

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