Government sources have ruled out extending the mansion tax in the 28 October Budget, as well as raising capital gains tax (CGT), according to BBC Verify in a piece published on Sunday and carried by AOL. It says both had been raised as options before being ruled out.
The mansion tax extension is the new element. The CGT decision was already reported by the Times and by Bloomberg, which cited an unnamed Treasury official. Neither measure has been ruled out on the record by the Treasury, so both remain reports until the Chancellor, John Healey, delivers the Budget.
BBC Verify says Healey may need to raise money to boost his fiscal headroom. It notes that Labour's 2024 manifesto pledged not to raise the rates of income tax, VAT or National Insurance.