As John Healey prepares to deliver his first Budget as chancellor, there is growing interest in what tax changes might accompany his plans, particularly as he works closely with new Prime Minister Andy Burnham. The government has made addressing the cost of living a top priority, but it faces economic headwinds, such as high inflation and rising borrowing costs, which are expected to make this Budget a difficult one. One proposed change is to equalize the Capital Gains Tax (CGT) rates, potentially raising them to as high as 45 percent, which would align with current income tax levels. This idea, suggested by Ecotricity founder Dale Vince, could generate up to £14 billion in revenue. However, experts warn that this figure might be reduced if people change their behavior, such as selling assets sooner to avoid higher taxes. The government is also considering unfreezing income tax thresholds, which have remained at £12,570 since 2021. This freeze has been criticized for creating "fiscal drag," where people earning more are pushed into higher tax brackets even if their income hasn't increased significantly. Unfreezing these thresholds could raise £8 billion for the Treasury by 2029-2030. Another potential change is to the 'mansion tax,' or high-value council tax surcharge, which targets homes worth £2 million or more. The government is reportedly considering lowering the threshold to £1.5 million. This would double the annual revenue from the tax to £800 million and nearly double the number of affected properties. Inheritance tax reforms are also under discussion, including closing loopholes that allow people to avoid tax on inherited assets. These changes follow the decision by former chancellor Rachel Reeves to include pension pots in the inheritance tax system, which will take effect next year. Additionally, there are discussions about shifting from stamp duty to a land value tax, which would base property taxes on land value rather than the purchase price. This could align with Burnham’s goal of promoting growth in all areas of the country.