The plan will be presented to the Chancellor as part of civil servant proposals for the Autumn Budget, with Reeves facing a £50 billion black hole.

RACHEL Reeves is under pressure to fill a £50billion blackhole with an all-new tax raid in the Autumn Budget. Experts have suggested a raft of tax changes could be announced in the speech –

Capital gains tax (CGT) is a charge on the increase in the value of an asset when you sell it. It applies to the sale of things like paintings, second homes, and stocks and shares, but main homes are currently exempt from GCT.