Chancellor Rachel Reeves has waned wealthy Brits to brace themselves for her painful Budget at the end of this month.

She warned that they will “bear the largest burden” of her financial changes that will be announced within two weeks.

In an interview recorded before an International Investment Summit today, Reeves said it would be those with the “broadest shoulders” who will find themselves at the sharp end of first Budget on October 30.

Speaking to Andrew Marr on the New Statesman’s NS podcast, Ms Reeves said: “I said during the election campaign we’re not going to be introducing a wealth tax.

“But I think people will be in no doubt when we do the Budget that those with the broadest shoulders will be bearing the largest burden.

“You saw that in our manifesto campaign. You know, non-doms, private equity, the windfall tax on the big profits the energy companies are making and putting VAT and business rates on private schools.”

It emerged two days ago that she could also hike capital gains tax to a huge 39 percent, from its current level of between ten and 24 per cent depending on an individuals tax rate.

The Treasury is looking at a possible new range of 33 to 39 percent for capital gains, tax paid on the sale of a second home or other significant asset that has risen in value, to help plug the £22 billion black hole Balor says was left by the Tories.

Ms Reeves has faced a huge backlash over her plan to withdraw winter fuel allowance from all pensioner snot in receipt of Pension Credit.

There were also fears she would axe the free bus pass to all pensioners, until a pledge this would not happen.