The reality of wealth inequality in the UK is laid bare in the housing market, with younger generations struggling to buy and others living in homes that are only increasing in value, paying taxes based on an out-of-date valuation.

Rachel Reeves attempted to rebalance this in her Budget – owners of homes worth over £2m will face a new high value council tax surcharge from 2028.

Supporters of this, and other property taxes, argue that housing is an undertaxed store of wealth and that higher rates could fund services and rebalance the market. Critics warn that raising taxes would punish ordinary households, many of whom are asset-rich but cash-poor.

So, should homeowners pay more tax? Our housing correspondent Vicky Spratt, economics columnist Hamish McRae and columnist and former chancellor Kwasi Kwarteng give their perspectives.

Home, as the saying goes, is where the heart is. But for a growing number of people in Britain – particularly young adults – thinking about home is more likely to trigger pain and heartache.

You will know by now that Britain has a housing crisis. It’s all over the news. The under-45s are most affected because they did not benefit from the house price booms of the 1990s, early 2000s and 2010s unless, of course, they’ve got very wealthy parents who passed on equity windfalls in the form of........

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