Changing Council Tax Bands 'Could Raise £3.5bn More Than Mansion Tax'

Labour faces embarrassment over its mansion tax plans after an independent report found council tax reform would be ‘fairer’ and raise four times as much. Ed Miliband claims his flagship policy will raise £1.2billion a year on homes worth more than £2million. But the Centre for Economic and Business Research says it is ‘improbable’ that they would raise so much. Instead, it claimed that tweaking council tax bands, which have not changed for 25 years, would be a more ‘progressive’ way to raise revenue. Adding three extra brackets for high-end properties would generate an extra £4.7billion a year, it said. Read more on the Daily Mail website.