Party row ahead of 'mansion tax' debate

clock

Labour has been accused of playing "cynical party games" ahead of a House of Commons debate and vote on plans for a ‘mansion tax'.

Vince Cable said the motion put forward by Labour was originally a Liberal Democrat policy and that the party was attempting to drive a wedge between the Lib Dems and the Conservatives ahead of next week's Budget. In February, Labour leader Ed Miliband announced that Labour would re-introduce a 10p starting rate of income tax paid for through a levy on properties worth more than £2m. However, the Institute for Fiscal Studies said the policy had "no plausible economic justification". The Conservatives have opposed the idea from the start, saying it wouldn't be right to "come after [...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax Planning

HMRC continues to see raft of pension tax overpayment claims

HMRC continues to see raft of pension tax overpayment claims

Claim numbers hit 12,767 in second quarter

Isabel Baxter
clock 30 July 2025 • 2 min read
Economists pen open letter calling for a UK wealth tax

Economists pen open letter calling for a UK wealth tax

‘A progressive wealth tax is a critical step forward’

Isabel Baxter
clock 29 July 2025 • 3 min read
TISA and industry urge government to rethink IHT on pensions

TISA and industry urge government to rethink IHT on pensions

Research proposes simpler alternatives

Isabel Baxter
clock 14 July 2025 • 5 min read