It may feel like we’ve already heard every argument possible for/against a mansion tax. But apparently not. The three major political parties are prepping for (another) battle royale over the taxing of £2m+ homes,according to reports in The Times.
“The finest [Tory] minds in the Treasury” have worked out that, based on Liberal Democrats projections that the levy would raise £2bn per year, the tax would cost wealthy homeowners an average of £36,000 per year. That’s quite a bit different to Lib Dem and Labour claims that the tax would come in at between £5,000 (for a £2.5m house) and £30,000 (for a £5m house).