Rachel Reeves has privately told MPs that she will include a “mansion tax” in her Budget next week, The i Paper understands.

The Chancellor hosted drinks for a select group of Labour loyalists at No 11 Downing Street on Monday night, where she said she was working up plans to target the highest value homes in the country .

It comes just days after Reeves U-turned on her plans to raise income tax , choosing instead to introduce a “smorgasbord” of smaller tax rises to help balance the country’s finances on 26 November. New Feature

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Over what was described as “warm white wine, cheese twists and flapjacks”, Reeves urged the MP to sell the message that tax rises will fall hardest on wealthier people, rather than those on modest incom

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