Chancellor Rachel Reeves is facing criticism over a series of tax measures that critics say will hit middle-class savers and homeowners.

In her most recent Budget, Reeves raised capital gains tax and extended inheritance tax to unused pensions, continuing a trend begun under her Conservative predecessor Jeremy Hunt. Reports suggest further tax rises could be announced in the upcoming Autumn Budget as Labour rules out large-scale spending cuts.

While Labour MPs argue that wealthier households should contribute more, experts warn that the measures will primarily affect those with pensions, savings and family homes. Analysts say a potential levy on main residences, previously considered off-limits, could represent a significant shift in UK tax policy.

The prospect of additional taxes on inheritances, ISAs and property has prompted concern among financial commentators, who warn that such steps risk discouraging saving and investment. Reeves has defended her approach as necessary to address the fiscal shortfall, but critics argue that the middle class is being unfairly targeted.

Public debate around the proposed measures remains intense, with some calling for a wealth tax on fortunes above £10 million, while others fear that even modest homeowners will be drawn into new tax liabilities as property values rise.