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.

Rachel Reeves could consider cutting the amount savers are allowed to withdraw in a lump sum from their pension pots as she seeks to plug a multi-billion-pound hole in the public finances.

Officials estimate cutting the cap could raise more than £2billion a year.