Labour’s mansion tax plan defeated in the Commons

Just a few days after Labour threw itself behind a Mansion Tax on £2m+ properties, The Liberal Democrat party has overhauled its Mansion Tax plans, proposing the introduction of new Council Tax bands…

Rather than benefit the working majority, a mansion tax could, in fact, do the opposite, says Tony Hennessey... Imagine for a moment that it is June 2015.

"Of course Savills are going to try and scare everybody with a £50m house," said Shadow Chancellor Ed Balls as he outlined his ideas for mansion thresholds in Labour's proposed progressive tax on high-value…