An Essex couple who face being forced to sell their boat to pay for their retirement are among dozens of pensioners who have written to The Telegraph to express their concern over Rachel Reeves’s maiden budget.
The chancellor outlined plans to plug a £22 billion black hole in the public’s finances on Wednesday, introducing new levies on private jet use and abolishing the non-dom tax status.
She has also hiked the maximum rate of capital gains tax and upped the tax paid by private equity managers on share of profits.
Ahead of the announcement, property investors expressed concerns over how they will be hit in the Budget, with a survey finding 77 per cent are worried about tax rises such as Capital Gains Tax.
A similar number said they were apprehensive about the Government’s plans to abolish Section 21 ‘no-fault’ evictions in the Renters’ Rights Bill, and its possible impact on their ability to manage tenants effectively.
Others, meanwhile, expressed concern about the potential introduction of higher energy efficiency standards for rental properties.
Two such people profiled in The Telegraph have bemoaned the moves by Reeves.
Julie and John Macrae invested in 60 buy-to-let properties in Colchester to supplement their pensions, but now they’re worried they will have top sell up their boat to get by.
Someone find the tiny violins!
Related: Rachel Reeves stares at Sunak as she announces private jet levy
