finances

The government wants a regulator to be able to "improve the resilience of club finances, tackle rogue owners and directors and strengthen fan engagement".

According to the Federal Reserve’s most recent Survey of Consumer Finances in 2022, the median savings account balance for U.S. households was $8,000.

Reeves said the changes would raise £25bn a year and were necessary to put the public finances on a "firm footing".

Badenoch said the tax rise would see councils having to pay more for social care provision and asked if the government was considering lifting a cap on council tax to fill what she claimed was a £2.4bn hole in local government finances.

"We’ve been real enthusiasts about the review, a proper independent analysis of the game's finances," Parry told BBC Sport.