A group of Tory MPs is calling on Chancellor George Osborne to introduce a ‘mansion tax’ on £1m-plus homes.
The Thatcherite Free Enterprise Group says it could raise £650m for the Treasury.
It wants to see two new bands of council tax, one for properties between £1m and £1.2m, and the other for properties over £1.2m.
The owners would pay £4,000 and £7,000 a year respectively.
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Comments
Am I alone in wondering what planet our esteemed leaders are on? Surely they should be trying to drum up ideas to encourage commerce and activity rather than ways of squeezing yet more out of people. Still, I guess they have got to try and plug the hole now that they have dropped the income tax rate for those earning over £150k...and immigrants are entitled to child benefit for children living back in their homeland!
Or just stop wasting money
Or just introduce Land Value Tax and aboblish council Tax.