Nick Clegg has said that the Liberal Democrat election manifesto will include a reformed ‘mansion tax’. During his speech, the Deputy Prime Minister also indicated he is planning to borrow in order to build homes and boost the economy through infrastructure projects, whilst also remaining committed to reducing the deficit.Tackling the deficit would be done: “in a way that is fair. So not just through further spending cuts, but also by asking those with the broadest shoulders to make some additional contributions too, including, for instance, through our banded mansion tax – extending new tax bands to higher-value properties”, he stated. Meanwhile, the Guardian reports that Ed Miliband is also making a new mansion tax a central part of Labour’s manifesto. The party also plans to reintroduce the 50p tax rate, and continue with the bankers’ bonus tax.
Source: The Guardian (10/06/2014)