Labour has moved to reassure people with homes worth
between £1m and £2m that they would not be dragged into the mansion tax the
party would impose if it wins power in next May’s election. Ed Balls, the
shadow Chancellor, announced that
someone with a property worth between £2m and £3m would pay an extra £250 a
month – doubling the average council tax bill for homes in the top band. He
said owners of properties worth tens of millions would make “a much bigger contribution”
and that Labour will consider making overseas owners with second homes in the
UK pay an extra amount. Read more on the Independent website.
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