Shocking amount Reeves has made from rentals after clobbering landlords | Politics | News

Chancellor Rachel Reeves and her husband earn £74,000 a year from rental income, according to new reports.

The revelation comes after Ms Reeves hiked taxes by £40billion in the Budget, including policies that will hurt landlords.

She imposed higher taxes on stamp duty despite receiving rent from two properties bringing in more than £6,000, the Telegraph reports.

Ms Reeves lets her old family home out for about £3,200 a month while her husband, senior civil ervant Nicholas Joicey, lets out his two-bedroom flat in London for £3,200 a month.

This income tops up the pair’s six-figure salaries in their respective roles.

The average landlord makes around £16,500 a year from their properties.

Ms Reeves also raised capital gains tax rates, a move that could impact those looking to sell their homes.

Conservative MP Ben Obese-Jecty told the Telegraph: “Having just announced a deeply unpopular Budget that has caused mortgages to rise, how does the Chancellor justify the £74,000 rental income of her and her husband’s London properties whilst living rent-free in Downing Street as their mortgages are paid for? It’s no wonder she abstained from the most recent vote on the Renters’ Rights Bill.

“Her Budget snatched the £300 winter fuel payment from some of our poorest pensioners, robbed farmers of their ability to pass on their farms and will lead to lower wages for working people. This is yet another slap in the face for British people.”

Tory MP Greg Smith added: “Classic Labour Party do as I say, not as I do. I’m all right Jack, now I’m going to pull the drawbridge up. Yet another Labour action that doesn’t pass the sniff test.”

A Labour Party spokesman said: “The rental incomes have been declared in the usual way in accordance with the rules.”

Ms Reeves bought her family home along with her husband in 2012 for £599,950.

It is estimated that the property is now worth around £950,000.