Tory Coffers Benefit From Fears of Mansion Tax

High-end property developers, whose profits could be hit by a mansion tax, are bankrolling the Conservative Party to the tune of almost a million pounds. Electoral records show that in the past two years, property companies have begun donating to the Conservatives for the first time – contributing just under £800,000 to party coffers. The scale of donations underlines fears in the industry that a future Labour government or Lib/Lab coalition would impose punitive taxes on top-end property, triggering a market slump. Residential property companies and their owners now appear to be the biggest financial supporters of the Conservative Party after the financial sector, and will be crucial to helping the Tories to outspend Labour next year. Read more on the Independent website.