A new "super mansion tax" should be launched to raise billions from the owners of Britain's most expensive homes, Liberal Democrat president Tim Farren has said.
The Lib Dems are already pushing for a 1% annual levy on homes worth more than £2 million.
Now Farron has pushed the concept even further, calling for even higher rates of taxation for multi-million pound properties.
Farron told the Evening Standard: "Even when you are talking about people who are relatively wealthy, it's important that taxation should be progressive.
"I do take the point that in London there are many homes that are worth a significant amount of money which would be seen as not exorbitantly luxurious properties.
"You could have various rates within the mansion tax. A property worth £4 million, for example, paying a higher rate."
His proposal comes just days after Knight Frank, the estate agent, warned that under current plans the Lib Dems will fall short of their plans to raise £1.7 million from the tax.
It predicted that politicians would steadily extend the mansion tax to cover more properties. Assuming historic rates of price growth, the number of properties affected by the tax will increase from 55,000 homes to 775,500 homes over the next 25 years, it said.
Comments
When did it become illegal to make money and be successful? Why do we keep trying to punish such people?
Taxes are much too high already, across the board. Why not just stop wasting the tax money you already get?
Or is this not about raising money? Is it simply about punishing the rich for being rich; the politics of envy?