Rachel Reeves’s former boss has suggested the government does not have a “coherent” tax strategy, amid reports the chancellor is considering a mansion tax in next month’s Budget.Mervyn King, former governor of the Bank of England, told Sky News that problems within the system cannot be solved by “just adding another wealth tax to it”.It has been reported that the chancellor is considering a tax on high-value properties in next month’s Budget. Lord King ran the Bank of England – where Reeves spent an early part of her career – for 10 years from 2003 to 2013. Speaking to Sky News on Sunday, he said that there is “plenty of scope for reforming the tax system”. Pointing to the reports around a mansion tax, he went on: “Property taxes are [an] interaction between stamp duty, council tax, capital gains tax, inheritance tax. You don’t solve that problem by just adding another wealth tax to it.” He said that he would advise the chancellor to “set up a group of people who, in 12 months, look deeply at all aspects of the tax treatment – not just on property, but all kinds of other sorts of savings and wealth – to come up with a coherent view as to what it should look like. “And that doesn’t seem to happen. What happens is the [Office for Budget Responsibility] produces just before the Budget a number … and then they look round for what idea is almost written on the back of a fag packet about how you can raise an extra few billion here or few billion there. The chancellor is reportedly considering a tax on high-value properties More