Labour leadership contender David Miliband has called for owners of homes worth more than £2 million should pay an annual "mansion tax" to help the poor. The shadow foreign secretary said the levy would raise £1.7 billion to restore housing benefit for the least well-off. The proposal appears designed to drive a wedge between the coalition partners, as well as appealing to Labour grass roots. Business Secretary Vince Cable put the idea in the Liberal Democrat General Election manifesto - but it was lost during negotiations with the Tories. Mr Miliband said the money raised would allow Labour to reverse the coalition's proposals for slashing housing benefit costs by cutting the current rates paid on behalf of tenants. Read the full story on 24dash.
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