View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
March 5, 2012

Tel: Mansion tax would cost more than earn, says Centre for Policy Studies

By Spear's

A mansion tax would be complex, unfair and would lose more in tax revenues than it would bring in, a new study has found

A mansion tax would be complex, unfair and would lose more in tax revenues than it would bring in, a new study has found.

The report from the Centre for Policy Studies came amid claims that the Liberal Democrats were ready to scrap their opposition to scrapping the top 50p tax rate in return for the tax on homes worth over £2million.

One senior Lib Dem minister said that Conservatives and Lib Dems were not “intellectually wedded” to the 50p rate.

Under Lib Dem plans being considered by Chancellor George Osbrone the Government would bring in some form of new tax on properties worth more than £2million.

Content from our partners
How Hamblin Family Law is exploring a groundbreaking pricing model
Spies and secret ops: How espionage has inspired London’s most exciting hotel
High-flyers: TAG Aviation explains that it's not about the destination, it's about the journey

However study published today suggests the measure would “unfairly target the income poor, equity rich” who had lived in their homes for decades. It would also be “both difficult and expensive to value all relevant properties”.

It said that a third of London homes worth more than £2million have been owned by the same family for over 10 years.

To read the full story, visit telegraph.co.uk

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network