The Labour Party have recently announced a plan to charge a ‘Mansion Tax’ on people who own property worth more than £2m. The LibDems too, are keen to extract more cash from those who are deemed to have cash because they have a house worth a lot of money, whether or not they have disposable income to pay it.
But as usual, there is one group of people who will be protected from this new surcharge – our MPs.
This article from the Daily Mirror suggests that MPs will be able to charge any such tax on expenses, proving again that we’re not all in it together.
The whole problem of implementing a Mansion Tax is discussed in this article from the DT that tells the story of farmers in France being crippled by the equivalent measure.
There was a story recently that 30% of all tax revenue now comes from just 300,000 tax payers.
I don’t own a £2m home – far from it – so I’m not going to be impacted by any proposed mansion tax, but there is surely a limit to how much anyone is prepared to pay in tax – even the super rich.